AvalonBay Communities (AVB) to Release Quarterly Earnings on Thursday

AvalonBay Communities (NYSE:AVB) will be posting its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect AvalonBay Communities to post earnings of $2.64 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. The firm had revenue of $704.71 million for the quarter, compared to analyst estimates of $701.67 million. During the same period last year, the company earned $2.59 EPS. On average, analysts expect AvalonBay Communities to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.

AvalonBay Communities Price Performance

NYSE AVB opened at $180.95 on Thursday. The firm’s 50 day moving average is $180.81 and its 200-day moving average is $177.82. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $25.73 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92. AvalonBay Communities has a 12-month low of $160.45 and a 12-month high of $198.65.

AvalonBay Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $1.70 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.76%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio (DPR) is 103.82%.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares in the company, valued at approximately $4,054,985.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the transaction, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was 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 in the company, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. Norges Bank bought a new position in AvalonBay Communities during the 4th quarter worth $1,001,550,000. Wellington Management Group LLP increased its position in shares of AvalonBay Communities by 57.1% in the first quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock worth $531,516,000 after purchasing an additional 777,631 shares during the period. JPMorgan Chase & Co. raised its stake in AvalonBay Communities by 18.5% in the first quarter. JPMorgan Chase & Co. now owns 4,863,429 shares of the real estate investment trust’s stock valued at $817,348,000 after purchasing an additional 759,388 shares in the last quarter. Long Pond Capital LP lifted its position in AvalonBay Communities by 255.8% during the fourth quarter. Long Pond Capital LP now owns 767,824 shares of the real estate investment trust’s stock worth $124,019,000 after purchasing an additional 552,042 shares during the period. Finally, State Street Corp grew its stake in AvalonBay Communities by 5.6% during the first quarter. State Street Corp now owns 10,087,597 shares of the real estate investment trust’s stock worth $1,711,547,000 after buying an additional 531,677 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AVB shares. Wolfe Research cut AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Piper Sandler reissued an “overweight” rating and issued a $207.00 price objective on shares of AvalonBay Communities in a report on Tuesday, March 26th. Truist Financial lowered their target price on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $175.00 to $191.50 in a research note on Monday, February 26th. Finally, KeyCorp restated a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $196.78.

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.