AvalonBay Communities, Inc. (AVB) to Post FY2019 Earnings of $9.84 Per Share, Jefferies Group Forecasts
AvalonBay Communities, Inc. (NYSE:AVB) – Research analysts at Jefferies Group lowered their FY2019 earnings per share estimates for shares of AvalonBay Communities in a research note issued to investors on Thursday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will earn $9.84 per share for the year, down from their previous estimate of $9.93.
A number of other brokerages have also commented on AVB. Deutsche Bank boosted their price target on AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a report on Friday, August 18th. Goldman Sachs Group lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price on the stock. in a report on Tuesday, September 5th. Robert W. Baird reiterated a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and set a $209.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Finally, UBS upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their target price for the stock from $190.00 to $206.00 in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $201.40.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The firm had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 88.75%.
In other news, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $181.89, for a total value of $363,780.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,628,669 in the last ninety days. 0.46% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of AVB. Creative Planning grew 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 valued at $104,000 after purchasing an additional 2 shares during the last quarter. Amica Retiree Medical Trust acquired a new stake in AvalonBay Communities during the third quarter worth approximately $132,000. WFG Advisors LP grew its position in AvalonBay Communities by 24.9% during the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in AvalonBay Communities during the second quarter worth approximately $226,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in AvalonBay Communities during the third quarter worth approximately $227,000. 95.07% of the stock is currently owned by institutional investors.
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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