AvalonBay Communities (NYSE:AVB) Issues Q2 Earnings Guidance

AvalonBay Communities (NYSE:AVBGet Rating) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $2.25-2.37 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.37. AvalonBay Communities also updated its FY22 guidance to $9.38-9.78 EPS.

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of AvalonBay Communities from $265.00 to $271.00 and gave the stock an overweight rating in a report on Friday, April 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of AvalonBay Communities from $285.00 to $272.00 and set a buy rating on the stock in a research report on Thursday, March 24th. Truist Financial reduced their price target on shares of AvalonBay Communities from $266.00 to $263.00 and set a hold rating on the stock in a research report on Monday, March 7th. Barclays upgraded shares of AvalonBay Communities from an underweight rating to an overweight rating and boosted their price target for the company from $225.00 to $263.00 in a research report on Tuesday, January 18th. Finally, Royal Bank of Canada boosted their price target on shares of AvalonBay Communities from $251.00 to $260.00 and gave the company a sector perform rating in a research report on Monday, February 7th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $263.40.

AVB traded down $12.02 during midday trading on Friday, reaching $227.48. The company’s stock had a trading volume of 1,427,120 shares, compared to its average volume of 780,186. The firm has a market capitalization of $31.81 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 4.49 and a beta of 0.93. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.74. AvalonBay Communities has a 1 year low of $186.61 and a 1 year high of $259.05. The stock’s 50-day moving average is $245.02 and its 200-day moving average is $243.22.

AvalonBay Communities (NYSE:AVBGet Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The real estate investment trust reported $2.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $1.40. AvalonBay Communities had a net margin of 47.68% and a return on equity of 10.34%. During the same period in the previous year, the firm earned $2.02 EPS. As a group, equities research analysts forecast that AvalonBay Communities will post 9.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were paid a dividend of $1.59 per share. The ex-dividend date was Wednesday, March 30th. This represents a $6.36 annualized dividend and a yield of 2.80%. AvalonBay Communities’s dividend payout ratio is 79.10%.

A number of institutional investors and hedge funds have recently modified their holdings of AVB. Heritage Wealth Advisors boosted its stake in AvalonBay Communities by 8.7% during the 4th quarter. Heritage Wealth Advisors now owns 3,122 shares of the real estate investment trust’s stock valued at $789,000 after purchasing an additional 250 shares during the last quarter. Barclays PLC boosted its stake in shares of AvalonBay Communities by 1.8% in the 4th quarter. Barclays PLC now owns 205,855 shares of the real estate investment trust’s stock worth $51,997,000 after buying an additional 3,689 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of AvalonBay Communities by 256.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 9,704 shares of the real estate investment trust’s stock worth $2,451,000 after buying an additional 6,981 shares during the last quarter. MML Investors Services LLC purchased a new position in shares of AvalonBay Communities in the 4th quarter worth $235,000. Finally, Marshall Wace LLP boosted its stake in shares of AvalonBay Communities by 1,188.5% in the 4th quarter. Marshall Wace LLP now owns 35,485 shares of the real estate investment trust’s stock worth $8,962,000 after buying an additional 32,731 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AvalonBay Communities Company Profile (Get Rating)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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 markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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

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