$2.28 Earnings Per Share Expected for AvalonBay Communities, Inc. (AVB) This Quarter
Wall Street brokerages expect AvalonBay Communities, Inc. (NYSE:AVB) to post $2.28 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for AvalonBay Communities’ earnings, with estimates ranging from $2.25 to $2.29. AvalonBay Communities reported earnings per share of $2.59 in the same quarter last year, which suggests a negative year-over-year growth rate of 12%. The company is scheduled to issue its next earnings report on Monday, October 23rd.
According to Zacks, analysts expect that AvalonBay Communities will report full year earnings of $8.45 per share for the current financial year, with EPS estimates ranging from $8.40 to $8.48. For the next year, analysts anticipate that the firm will post earnings of $9.10 per share, with EPS estimates ranging from $8.95 to $9.26. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by $0.05. The business had revenue of $530.51 million during the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. During the same period last year, the business posted $2.03 earnings per share.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a report on Friday, September 1st. BidaskClub cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird reaffirmed a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Deutsche Bank AG upped their target price on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a report on Friday, August 18th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $191.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $195.47.
AvalonBay Communities (AVB) opened at 185.99 on Friday. The company has a 50-day moving average of $189.31 and a 200 day moving average of $188.83. The company has a market capitalization of $25.61 billion, a P/E ratio of 25.61 and a beta of 0.35. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $199.52.
Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning boosted its position in shares of AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 2 shares during the period. Muzinich & Co. Inc. boosted its position in shares of AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 339 shares during the period. WFG Advisors LP boosted its position in shares of AvalonBay Communities by 24.9% in the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 167 shares during the period. Perigon Wealth Management LLC boosted its position in shares of AvalonBay Communities by 546.9% in the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 875 shares during the period. Finally, Eqis Capital Management Inc. bought a new position in shares of AvalonBay Communities in the second quarter worth approximately $201,000. Institutional investors and hedge funds own 97.54% of the company’s stock.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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