AvalonBay Communities (NYSE:AVB) Updates Q4 2024 Earnings Guidance

AvalonBay Communities (NYSE:AVB) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.780-2.880 for the period, compared to the consensus estimate of 2.840. The company issued revenue guidance of -. AvalonBay Communities also updated its FY 2024 guidance to 10.990-11.090 EPS.

Analysts Set New Price Targets

AVB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Royal Bank of Canada boosted their price objective on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Scotiabank upped their target price on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Piper Sandler lifted their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $225.88.

AvalonBay Communities Stock Up 2.3 %

AvalonBay Communities stock traded up $4.96 during midday trading on Tuesday, reaching $223.46. The stock had a trading volume of 212,844 shares, compared to its average volume of 727,090. AvalonBay Communities has a 1-year low of $164.76 and a 1-year high of $236.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The firm’s fifty day simple moving average is $225.52 and its 200-day simple moving average is $210.20. The stock has a market capitalization of $31.78 billion, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is presently 115.06%.

AvalonBay Communities Company Profile

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.