Zacks: Brokerages Anticipate AvalonBay Communities Inc (NYSE:AVB) to Announce $2.25 EPS

Wall Street analysts forecast that AvalonBay Communities Inc (NYSE:AVB) will report $2.25 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for AvalonBay Communities’ earnings, with the highest EPS estimate coming in at $2.36 and the lowest estimate coming in at $2.14. AvalonBay Communities reported earnings per share of $2.27 in the same quarter last year, which would suggest a negative year over year growth rate of 0.9%. The firm is expected to report its next quarterly earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that AvalonBay Communities will report full-year earnings of $9.06 per share for the current year, with EPS estimates ranging from $8.77 to $9.39. For the next financial year, analysts expect that the business will post earnings of $9.30 per share, with EPS estimates ranging from $8.77 to $9.75. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.20%. The business had revenue of $547.51 million during the quarter, compared to analysts’ expectations of $596.58 million. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year.

Several equities research analysts recently commented on the company. SunTrust Banks cut their price target on AvalonBay Communities from $216.00 to $193.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Zacks Investment Research cut AvalonBay Communities from a “buy” rating to a “hold” rating and set a $171.00 price target for the company. in a report on Friday, April 17th. Morgan Stanley cut their price target on AvalonBay Communities from $226.00 to $143.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. TheStreet cut AvalonBay Communities from a “b-” rating to a “c+” rating in a report on Thursday, March 19th. Finally, Citigroup cut their price target on AvalonBay Communities from $225.00 to $145.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $198.71.

Large investors have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC boosted its holdings in AvalonBay Communities by 970.0% in the first quarter. Sowell Financial Services LLC now owns 214 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 194 shares during the period. Ellevest Inc. lifted its holdings in AvalonBay Communities by 67.3% during the 1st quarter. Ellevest Inc. now owns 261 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 105 shares during the last quarter. Muzinich & Co. Inc. lifted its holdings in AvalonBay Communities by 18.8% during the 4th quarter. Muzinich & Co. Inc. now owns 291 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 46 shares during the last quarter. TFG Advisers LLC purchased a new stake in AvalonBay Communities during the 4th quarter worth about $71,000. Finally, Arden Trust Co purchased a new stake in AvalonBay Communities during the 1st quarter worth about $56,000. Hedge funds and other institutional investors own 90.91% of the company’s stock.

Shares of AvalonBay Communities stock traded up $4.41 during mid-day trading on Thursday, reaching $159.05. 690,100 shares of the stock traded hands, compared to its average volume of 1,162,167. AvalonBay Communities has a fifty-two week low of $118.17 and a fifty-two week high of $229.40. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $21.76 billion, a PE ratio of 28.40, a PEG ratio of 5.03 and a beta of 0.82. The business has a 50-day moving average of $158.08 and a 200 day moving average of $182.95.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.59 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $6.36 dividend on an annualized basis and a yield of 4.00%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 68.09%.

AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 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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