AvalonBay Communities Inc (NYSE:AVB) – Equities research analysts at Jefferies Financial Group increased their FY2018 EPS estimates for shares of AvalonBay Communities in a research note issued on Friday, November 30th. Jefferies Financial Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings per share of $9.00 for the year, up from their prior forecast of $8.95. Jefferies Financial Group also issued estimates for AvalonBay Communities’ FY2019 earnings at $9.35 EPS and FY2020 earnings at $9.85 EPS.
Several other equities research analysts have also recently weighed in on the company. Argus increased their target price on AvalonBay Communities from $196.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, November 21st. ValuEngine upgraded AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Scotiabank set a $183.00 target price on AvalonBay Communities and gave the company a “hold” rating in a report on Monday, November 12th. BMO Capital Markets upgraded AvalonBay Communities from a “market perform” rating to an “outperform” rating and increased their target price for the company from $188.00 to $195.00 in a report on Friday, November 2nd. Finally, Evercore ISI set a $194.00 target price on AvalonBay Communities and gave the company a “buy” rating in a report on Monday, October 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $192.41.
Shares of AVB stock opened at $190.57 on Monday. The stock has a market cap of $26.34 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.89 and a beta of 0.38. AvalonBay Communities has a 1-year low of $152.65 and a 1-year high of $190.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.77.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.87). The company had revenue of $575.98 million for the quarter, compared to analysts’ expectations of $573.87 million. AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share.
Large investors have recently made changes to their positions in the company. Capital Bank & Trust Co bought a new position in shares of AvalonBay Communities in the 3rd quarter worth approximately $103,000. Adviser Investments LLC bought a new position in shares of AvalonBay Communities in the 2nd quarter worth approximately $124,000. IFP Advisors Inc raised its position in shares of AvalonBay Communities by 627.2% in the 3rd quarter. IFP Advisors Inc now owns 749 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 646 shares in the last quarter. Capital Guardian Trust Co. bought a new position in shares of AvalonBay Communities in the 3rd quarter worth approximately $139,000. Finally, Zions Bancorporation bought a new position in shares of AvalonBay Communities in the 3rd quarter worth approximately $158,000. 93.55% of the stock is owned by hedge funds and other institutional investors.
In other AvalonBay Communities news, EVP William M. Mclaughlin sold 23,302 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $186.87, for a total value of $4,354,444.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin P. O’shea sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $179.51, for a total value of $269,265.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,987 shares of company stock valued at $6,142,732. Company insiders own 0.43% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 68.21%.
About AvalonBay Communities
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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