AvalonBay Communities, Inc. (AVB) Updates Q4 Earnings Guidance
AvalonBay Communities, Inc. (NYSE:AVB) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $2.19-2.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.25.
Several research firms have recently issued reports on AVB. Jefferies Group LLC reaffirmed a hold rating and set a $196.00 price target on shares of AvalonBay Communities in a research note on Tuesday, July 4th. BidaskClub raised AvalonBay Communities from a sell rating to a hold rating in a research note on Thursday, August 3rd. BMO Capital Markets reaffirmed a hold rating and set a $191.00 price target on shares of AvalonBay Communities in a research note on Wednesday, August 2nd. Deutsche Bank AG lifted their price target on AvalonBay Communities from $193.00 to $195.00 and gave the stock a hold rating in a research note on Friday, August 18th. Finally, Barclays PLC lifted their price target on AvalonBay Communities from $188.00 to $189.00 and gave the stock an equal weight rating in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $196.00.
AvalonBay Communities, Inc. (AVB) traded up 0.13% during mid-day trading on Monday, reaching $181.89. The company had a trading volume of 555,261 shares. The stock’s 50-day moving average is $180.77 and its 200 day moving average is $188.12. AvalonBay Communities, Inc. has a 12 month low of $158.32 and a 12 month high of $199.52. The firm has a market capitalization of $25.05 billion, a P/E ratio of 25.05 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the 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 company had revenue of $530.51 million for the quarter, compared to analysts’ expectations of $529.48 million. During the same period in the prior year, the company earned $2.03 earnings per share. On average, analysts predict that AvalonBay Communities, Inc. will post $5.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.12%. The ex-dividend date was Thursday, September 28th. AvalonBay Communities’s payout ratio is 78.13%.
About AvalonBay Communities
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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