Zacks: Brokerages Anticipate AvalonBay Communities, Inc. (NYSE:AVB) to Post $2.15 EPS

Brokerages predict that AvalonBay Communities, Inc. (NYSE:AVB) will report $2.15 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have provided estimates for AvalonBay Communities’ earnings, with estimates ranging from $2.04 to $2.27. AvalonBay Communities reported earnings of $2.02 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.4%. The business is expected to report its next quarterly earnings report on Wednesday, February 2nd.

According to Zacks, analysts expect that AvalonBay Communities will report full year earnings of $8.09 per share for the current fiscal year, with EPS estimates ranging from $7.84 to $8.25. For the next fiscal year, analysts anticipate that the business will post earnings of $9.06 per share, with EPS estimates ranging from $8.67 to $9.69. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, October 26th. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($1.43). AvalonBay Communities had a return on equity of 9.37% and a net margin of 44.91%. During the same quarter last year, the company earned $2.06 EPS.

A number of equities analysts have commented on the stock. Barclays assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 1st. They set an “underweight” rating and a $225.00 price objective for the company. BTIG Research lifted their price objective on shares of AvalonBay Communities from $251.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. They noted that the move was a valuation call. KeyCorp lifted their price objective on shares of AvalonBay Communities from $236.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 12th. Royal Bank of Canada lifted their price objective on shares of AvalonBay Communities from $238.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday, October 29th. Finally, Colliers Securities reaffirmed a “hold” rating and set a $255.00 price objective on shares of AvalonBay Communities in a research report on Friday, September 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.25.

In other AvalonBay Communities news, CEO Timothy J. Naughton sold 21,843 shares of the business’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $228.49, for a total transaction of $4,990,907.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward M. Schulman sold 245 shares of the business’s stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $240.94, for a total value of $59,030.30. The disclosure for this sale can be found here. Insiders have sold 27,088 shares of company stock valued at $6,268,887 in the last ninety days. 0.36% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in AvalonBay Communities by 0.5% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,292 shares of the real estate investment trust’s stock valued at $1,838,000 after acquiring an additional 45 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in AvalonBay Communities by 11.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the real estate investment trust’s stock valued at $90,000 after acquiring an additional 46 shares during the last quarter. Advisory Services Network LLC boosted its holdings in AvalonBay Communities by 3.4% in the third quarter. Advisory Services Network LLC now owns 1,484 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 49 shares during the last quarter. Heritage Wealth Advisors boosted its holdings in AvalonBay Communities by 1.8% in the third quarter. Heritage Wealth Advisors now owns 2,872 shares of the real estate investment trust’s stock valued at $637,000 after acquiring an additional 51 shares during the last quarter. Finally, Veriti Management LLC boosted its holdings in AvalonBay Communities by 1.9% in the second quarter. Veriti Management LLC now owns 2,877 shares of the real estate investment trust’s stock valued at $600,000 after acquiring an additional 53 shares during the last quarter. 87.39% of the stock is owned by institutional investors.

AVB traded up $4.13 during trading on Thursday, reaching $246.86. 323,735 shares of the stock were exchanged, compared to its average volume of 705,359. The stock has a market cap of $34.50 billion, a P/E ratio of 34.14, a price-to-earnings-growth ratio of 7.26 and a beta of 0.93. AvalonBay Communities has a twelve month low of $154.84 and a twelve month high of $247.45. The stock’s 50 day moving average price is $232.11 and its two-hundred day moving average price is $222.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.12 and a current ratio of 1.12.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Friday, December 31st will be given a dividend of $1.59 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, December 30th. This represents a $6.36 annualized dividend and a yield of 2.58%. AvalonBay Communities’s dividend payout ratio is currently 87.97%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.

See Also: Leveraged Buyout (LBO) Explained

Get a free copy of the Zacks research report on AvalonBay Communities (AVB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.