Q3 2017 EPS Estimates for AvalonBay Communities, Inc. Cut by Jefferies Group (AVB)
AvalonBay Communities, Inc. (NYSE:AVB) – Research analysts at Jefferies Group reduced their Q3 2017 EPS estimates for shares of AvalonBay Communities in a research note issued to investors on Monday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will earn $2.13 per share for the quarter, down from their previous estimate of $2.15. Jefferies Group has a “Hold” rating and a $196.00 price objective on the stock. Jefferies Group also issued estimates for AvalonBay Communities’ FY2018 earnings at $9.05 EPS.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.14 by ($0.05). AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The firm had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. During the same quarter in the prior year, the company earned $2.03 earnings per share. ILLEGAL ACTIVITY NOTICE: “Q3 2017 EPS Estimates for AvalonBay Communities, Inc. Cut by Jefferies Group (AVB)” was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.americanbankingnews.com/2017/10/17/q3-2017-eps-estimates-for-avalonbay-communities-inc-cut-by-jefferies-group-avb.html.
A number of other brokerages also recently issued reports on AVB. Argus assumed coverage on AvalonBay Communities in a research report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 price target for the company. BidaskClub upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and issued a $191.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Deutsche Bank AG raised their price target on AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Finally, Barclays PLC raised their price target on AvalonBay Communities from $188.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $196.00.
Shares of AvalonBay Communities (AVB) opened at 179.20 on Tuesday. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $199.52. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 24.68 and a beta of 0.36. The company’s 50-day moving average is $182.32 and its 200-day moving average is $188.47.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $1.42 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.17%. AvalonBay Communities’s payout ratio is currently 78.13%.
Hedge funds have recently added to or reduced their stakes in the stock. Ffcm LLC raised its holdings in shares of AvalonBay Communities by 6.6% in the second quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock valued at $2,064,000 after acquiring an additional 667 shares in the last quarter. AXA raised its holdings in shares of AvalonBay Communities by 7.7% in the second quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock valued at $21,485,000 after acquiring an additional 7,981 shares in the last quarter. IBM Retirement Fund raised its holdings in shares of AvalonBay Communities by 120.1% in the second quarter. IBM Retirement Fund now owns 3,374 shares of the real estate investment trust’s stock valued at $724,000 after acquiring an additional 1,841 shares in the last quarter. Swiss National Bank raised its holdings in shares of AvalonBay Communities by 2.0% in the second quarter. Swiss National Bank now owns 849,580 shares of the real estate investment trust’s stock valued at $163,264,000 after acquiring an additional 16,400 shares in the last quarter. Finally, State Treasurer State of Michigan raised its holdings in shares of AvalonBay Communities by 0.4% in the second quarter. State Treasurer State of Michigan now owns 45,323 shares of the real estate investment trust’s stock valued at $8,710,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 97.50% 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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