FY2017 EPS Estimates for AvalonBay Communities Inc Lowered by Jefferies Group (AVB)
AvalonBay Communities Inc (NYSE:AVB) – Investment analysts at Jefferies Group lowered their FY2017 earnings per share estimates for AvalonBay Communities in a research report issued to clients and investors on Monday. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings of $8.50 per share for the year, down from their previous forecast of $8.55. Jefferies Group currently has a “Hold” rating and a $196.00 price objective on the stock.
Other equities research analysts also recently issued reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $209.00 target price on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Evercore ISI upgraded AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 target price on the stock in a research report on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of AvalonBay Communities in a research report on Sunday, September 24th. Goldman Sachs Group, Inc. (The) downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price on the stock. in a research report on Tuesday, September 5th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $202.00 target price on shares of AvalonBay Communities in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $196.00.
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AvalonBay Communities (NYSE:AVB) traded up 0.008% during mid-day trading on Wednesday, hitting $180.615. The company’s stock had a trading volume of 374,192 shares. AvalonBay Communities has a 52-week low of $158.32 and a 52-week high of $199.52. The stock has a market cap of $24.87 billion, a P/E ratio of 24.875 and a beta of 0.36. The company’s 50 day moving average is $181.60 and its 200-day moving average is $188.30.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.05). AvalonBay Communities had a net margin of 31.14% and a return on equity of 6.43%. The business had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. During the same period in the previous year, the business earned $2.03 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $5.68 annualized dividend and a yield of 3.15%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 78.13%.
Large investors have recently made changes to their positions in the stock. Ffcm LLC grew its stake in AvalonBay Communities by 6.6% in the second quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock worth $2,064,000 after purchasing an additional 667 shares in the last quarter. AXA grew its stake in AvalonBay Communities by 7.7% in the second quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock worth $21,485,000 after purchasing an additional 7,981 shares in the last quarter. IBM Retirement Fund grew its stake in AvalonBay Communities by 120.1% in the second quarter. IBM Retirement Fund now owns 3,374 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 1,841 shares in the last quarter. Swiss National Bank grew its stake in AvalonBay Communities by 2.0% in the second quarter. Swiss National Bank now owns 849,580 shares of the real estate investment trust’s stock worth $163,264,000 after purchasing an additional 16,400 shares in the last quarter. Finally, State Treasurer State of Michigan grew its stake in AvalonBay Communities by 0.4% in the second quarter. State Treasurer State of Michigan now owns 45,323 shares of the real estate investment trust’s stock worth $8,710,000 after purchasing an additional 200 shares in the last quarter. 97.50% of the stock is currently owned by institutional investors.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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