FY2024 EPS Estimates for AvalonBay Communities, Inc. Lifted by Analyst (NYSE:AVB)

AvalonBay Communities, Inc. (NYSE:AVBFree Report) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for AvalonBay Communities in a note issued to investors on Tuesday, June 4th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $10.83 for the year, up from their previous forecast of $10.81. The consensus estimate for AvalonBay Communities’ current full-year earnings is $10.90 per share. Zacks Research also issued estimates for AvalonBay Communities’ Q4 2024 earnings at $2.75 EPS.

A number of other research analysts have also issued reports on AVB. Wells Fargo & Company boosted their price objective on AvalonBay Communities from $189.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Argus upped their price target on shares of AvalonBay Communities from $188.00 to $212.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Barclays increased their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $191.00 target price on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Finally, Scotiabank raised their price target on shares of AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $204.89.

Get Our Latest Stock Analysis on AvalonBay Communities

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $198.27 on Thursday. The company has a market cap of $28.19 billion, a P/E ratio of 29.50, a PEG ratio of 2.88 and a beta of 0.93. The business has a 50 day moving average of $190.58 and a two-hundred day moving average of $183.66. AvalonBay Communities has a 52 week low of $160.45 and a 52 week high of $200.71. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to the consensus estimate 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 previous year, the business posted $2.57 earnings per share.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 annualized dividend and a dividend yield of 3.43%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Institutional Investors Weigh In On AvalonBay Communities

A number of institutional investors and hedge funds have recently modified their holdings of AVB. Westwood Holdings Group Inc. purchased a new stake in AvalonBay Communities during the first quarter valued at about $5,567,000. DekaBank Deutsche Girozentrale raised its holdings in shares of AvalonBay Communities by 10.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock valued at $18,338,000 after acquiring an additional 9,125 shares during the period. Cetera Advisors LLC lifted its position in shares of AvalonBay Communities by 151.5% in the 1st quarter. Cetera Advisors LLC now owns 10,455 shares of the real estate investment trust’s stock valued at $1,940,000 after acquiring an additional 6,298 shares in the last quarter. Cetera Investment Advisers boosted its stake in AvalonBay Communities by 153.3% in the 1st quarter. Cetera Investment Advisers now owns 17,564 shares of the real estate investment trust’s stock worth $3,259,000 after purchasing an additional 10,629 shares during the period. Finally, PGGM Investments grew its position in AvalonBay Communities by 18.0% during the 1st quarter. PGGM Investments now owns 4,555 shares of the real estate investment trust’s stock worth $845,000 after purchasing an additional 694 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile

(Get Free Report)

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.

Read More

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.