FY2019 Earnings Estimate for AvalonBay Communities, Inc. Issued By Jefferies Group (AVB)
AvalonBay Communities, Inc. (NYSE:AVB) – Analysts at Jefferies Group cut their FY2019 earnings per share estimates for shares of AvalonBay Communities in a research note issued on Tuesday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings of $9.71 per share for the year, down from their prior estimate of $9.84.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million during the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.11 earnings per share.
Shares of AvalonBay Communities (AVB) traded up $0.88 during trading on Wednesday, hitting $169.91. The stock had a trading volume of 540,249 shares, compared to its average volume of 553,518. The stock has a market capitalization of $23,500.00, a P/E ratio of 26.63, a PEG ratio of 2.49 and a beta of 0.35. AvalonBay Communities has a 12-month low of $167.51 and a 12-month high of $199.52. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69.
Several institutional investors and hedge funds have recently modified their holdings of AVB. Profund Advisors LLC increased its position in shares of AvalonBay Communities by 25.0% during the second quarter. Profund Advisors LLC now owns 8,904 shares of the real estate investment trust’s stock valued at $1,711,000 after acquiring an additional 1,782 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in AvalonBay Communities by 1.2% during the second quarter. Thrivent Financial For Lutherans now owns 70,588 shares of the real estate investment trust’s stock valued at $13,565,000 after purchasing an additional 850 shares during the period. Mutual of America Capital Management LLC grew its holdings in AvalonBay Communities by 3.5% during the second quarter. Mutual of America Capital Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $4,442,000 after purchasing an additional 784 shares during the period. GSA Capital Partners LLP bought a new position in AvalonBay Communities during the second quarter valued at $1,224,000. Finally, Northern Trust Corp grew its holdings in AvalonBay Communities by 2.3% during the second quarter. Northern Trust Corp now owns 2,367,614 shares of the real estate investment trust’s stock valued at $454,984,000 after purchasing an additional 52,272 shares during the period. 94.86% of the stock is owned by institutional investors.
In related news, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total transaction of $365,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock valued at $5,628,669 over the last ninety days. 0.46% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Thursday, December 28th. AvalonBay Communities’s payout ratio is 89.03%.
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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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