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.

Several other analysts also recently commented on the company. Robert W. Baird reissued a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, January 9th. JPMorgan Chase & Co. downgraded AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price objective for the company. in a research note on Friday, December 15th. BMO Capital Markets reissued a “hold” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 27th. UBS Group raised AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. Finally, Royal Bank of Canada lowered their price objective on AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $200.40.

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%.

TRADEMARK VIOLATION WARNING: This story was posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2018/01/17/fy2019-earnings-estimate-for-avalonbay-communities-inc-issued-by-jefferies-group-avb.html.

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.

Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.