AvalonBay Communities, Inc. (AVB) Issues Quarterly Earnings Results
AvalonBay Communities, Inc. (NYSE:AVB) announced its quarterly earnings data on Monday. The real estate investment trust reported $1.72 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.45), Yahoo Finance reports. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. During the same quarter in the prior year, the firm earned $2.11 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. AvalonBay Communities updated its Q4 guidance to $2.19-2.25 EPS.
Shares of AvalonBay Communities (AVB) opened at 182.60 on Tuesday. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $199.52. The company has a 50 day moving average of $180.63 and a 200 day moving average of $188.10. The company has a market cap of $25.15 billion, a PE ratio of 25.15 and a beta of 0.36.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $1.42 dividend. The ex-dividend date was Thursday, September 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.12%. AvalonBay Communities’s dividend payout ratio is 78.13%.
Several research analysts have commented on AVB shares. BidaskClub downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BMO Capital Markets restated a “hold” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday. Deutsche Bank AG boosted their price objective on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price objective for the company. in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $196.00.
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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