Q1 2018 EPS Estimates for AvalonBay Communities, Inc. (AVB) Boosted by Analyst
AvalonBay Communities, Inc. (NYSE:AVB) – Stock analysts at KeyCorp boosted their Q1 2018 earnings per share (EPS) estimates for AvalonBay Communities in a research report issued to clients and investors on Thursday. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will earn $2.28 per share for the quarter, up from their prior forecast of $2.27. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for AvalonBay Communities’ FY2018 earnings at $9.16 EPS.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share 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 analysts’ expectations of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.11 earnings per share.
AvalonBay Communities (AVB) traded down $1.19 during trading hours on Friday, reaching $169.77. 468,100 shares of the company’s stock were exchanged, compared to its average volume of 555,000. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. The stock has a market cap of $23,440.00, a PE ratio of 26.61, a P/E/G ratio of 2.58 and a beta of 0.35. AvalonBay Communities has a one year low of $169.50 and a one year high of $199.52.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.35%. AvalonBay Communities’s payout ratio is currently 89.03%.
In other AvalonBay Communities news, COO Sean J. Breslin sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $182.65, for a total value of $273,975.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,628,669 in the last 90 days. 0.46% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of AvalonBay Communities by 0.7% in the second quarter. Vanguard Group Inc. now owns 22,015,933 shares of the real estate investment trust’s stock valued at $4,230,802,000 after purchasing an additional 158,436 shares during the period. BlackRock Inc. boosted its holdings in shares of AvalonBay Communities by 1.1% in the second quarter. BlackRock Inc. now owns 14,559,192 shares of the real estate investment trust’s stock valued at $2,797,838,000 after acquiring an additional 161,167 shares in the last quarter. FMR LLC boosted its holdings in shares of AvalonBay Communities by 22.2% in the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after acquiring an additional 969,095 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AvalonBay Communities by 9.5% in the third quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock valued at $568,255,000 after acquiring an additional 276,035 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of AvalonBay Communities by 5.0% in the third quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after acquiring an additional 138,649 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.
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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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