AvalonBay Communities (NYSE:AVB) is set to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.27 per share for the quarter. AvalonBay Communities has set its FY 2019 guidance at $9.05-9.55 EPS and its FY19 guidance at $9.05-9.55 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, February 4th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). AvalonBay Communities had a net margin of 42.66% and a return on equity of 9.33%. The business had revenue of $578.52 million during the quarter, compared to analyst estimates of $576.56 million. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts expect AvalonBay Communities to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.
NYSE AVB opened at $197.94 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.63 and a quick ratio of 0.63. AvalonBay Communities has a 1-year low of $156.93 and a 1-year high of $204.53. The company has a market capitalization of $28.30 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61.
A number of equities research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of AvalonBay Communities from $203.00 to $211.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. KeyCorp lifted their price target on shares of AvalonBay Communities from $199.00 to $207.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Citigroup downgraded shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and lifted their price target for the company from $190.00 to $205.00 in a research report on Thursday, February 21st. They noted that the move was a valuation call. ValuEngine downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Finally, Zacks Investment Research downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $200.75.
In related news, CEO Timothy J. Naughton sold 67,789 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $196.41, for a total value of $13,314,437.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William M. Mclaughlin sold 2,500 shares of AvalonBay Communities stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $199.76, for a total transaction of $499,400.00. The disclosure for this sale can be found here. Insiders sold 92,837 shares of company stock worth $18,248,863 over the last three months. 0.42% of the stock is currently owned by insiders.
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About AvalonBay Communities
As of December 31, 2018, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine 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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