AvalonBay Communities Inc (NYSE:AVB) – Equities researchers at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of AvalonBay Communities in a report released on Monday. Jefferies Group analyst O. Okusanya expects that the real estate investment trust will earn $2.21 per share for the quarter. Jefferies Group also issued estimates for AvalonBay Communities’ Q2 2018 earnings at $2.23 EPS, Q3 2018 earnings at $2.24 EPS and Q4 2018 earnings at $2.29 EPS.
AVB has been the topic of several other research reports. UBS Group upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their target price for the company from $190.00 to $206.00 in a research note on Thursday, November 9th. Mizuho reiterated a “buy” rating and set a $220.00 price target on shares of AvalonBay Communities in a research report on Monday, November 6th. SunTrust Banks reiterated a “buy” rating and set a $186.00 price target on shares of AvalonBay Communities in a research report on Friday, February 2nd. BMO Capital Markets reiterated a “hold” rating and set a $187.00 price target on shares of AvalonBay Communities in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. downgraded shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $197.41.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $1.03. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The company had revenue of $555.29 million for the quarter, compared to the consensus estimate of $554.20 million. During the same quarter in the previous year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year.
A number of institutional investors have recently added to or reduced their stakes in AVB. Bartlett & Co. LLC lifted its position in AvalonBay Communities by 112.8% during the 4th quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 361 shares during the period. Amica Retiree Medical Trust acquired a new position in AvalonBay Communities during the 3rd quarter valued at about $132,000. WFG Advisors LP lifted its position in AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares during the period. Cubist Systematic Strategies LLC acquired a new position in AvalonBay Communities during the 2nd quarter valued at about $226,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in AvalonBay Communities during the 3rd quarter valued at about $227,000. Institutional investors own 95.24% of the company’s stock.
In other AvalonBay Communities news, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total transaction of $4,625,414.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction dated 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. Over the last 90 days, insiders have sold 30,660 shares of company stock worth $5,628,669. Corporate insiders own 0.46% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. This represents a $5.88 dividend on an annualized basis and a yield of 3.67%. AvalonBay Communities’s dividend payout ratio is presently 89.31%.
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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