AvalonBay Communities, Inc. Expected to Post Q2 2024 Earnings of $2.69 Per Share (NYSE:AVB)

AvalonBay Communities, Inc. (NYSE:AVB) – Equities research analysts at Zacks Research lowered their Q2 2024 earnings estimates for shares of AvalonBay Communities in a report issued on Thursday, May 16th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will earn $2.69 per share for the quarter, down from their previous estimate of $2.70. The consensus estimate for AvalonBay Communities’ current full-year earnings is $10.88 per share. Zacks Research also issued estimates for AvalonBay Communities’ Q3 2024 earnings at $2.69 EPS, Q1 2025 earnings at $2.76 EPS, Q2 2025 earnings at $2.79 EPS, Q3 2025 earnings at $2.82 EPS, Q4 2025 earnings at $2.85 EPS, FY2025 earnings at $11.22 EPS, Q1 2026 earnings at $2.91 EPS and FY2026 earnings at $11.82 EPS.

AVB has been the subject of several other reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $191.00 target price on shares of AvalonBay Communities in a research note on Thursday, February 22nd. UBS Group lifted their target price on AvalonBay Communities from $199.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Piper Sandler increased their price target on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Scotiabank lifted their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Royal Bank of Canada increased their target price on AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $202.83.

AvalonBay Communities Trading Up 0.4 %

Shares of AVB opened at $198.89 on Friday. The firm has a market cap of $28.28 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $200.71. The company has a 50 day simple moving average of $187.37 and a two-hundred day simple moving average of $181.17.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same quarter in the prior year, the business posted $2.57 EPS.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s payout ratio is currently 101.19%.

Insider Buying and Selling at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the sale, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Institutional Trading of AvalonBay Communities

Institutional investors and hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC increased its position in AvalonBay Communities by 270.0% during the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 135 shares during the period. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities during the first quarter valued at approximately $39,000. Pinnacle Bancorp Inc. raised its stake in AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 75 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in AvalonBay Communities during the fourth quarter worth $45,000. Finally, Sunbelt Securities Inc. bought a new stake in AvalonBay Communities during the 1st quarter valued at $68,000. 92.61% of the stock is currently owned by institutional investors.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.