AvalonBay Communities, Inc. (AVB) Expected to Post FY2017 Earnings of $8.62 Per Share
AvalonBay Communities, Inc. (NYSE:AVB) – Equities research analysts at Jefferies Group increased their FY2017 earnings estimates for shares of AvalonBay Communities in a report released on Thursday. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings of $8.62 per share for the year, up from their prior estimate of $8.50. Jefferies Group also issued estimates for AvalonBay Communities’ Q4 2017 earnings at $2.25 EPS and FY2018 earnings at $9.22 EPS.
A number of other equities analysts have also recently issued reports on AVB. Stifel Nicolaus reiterated a “buy” rating and issued a $209.00 price target on shares of AvalonBay Communities in a research note on Friday, September 1st. Robert W. Baird reissued a “buy” rating and issued a $202.00 target price on shares of AvalonBay Communities in a research report on Friday, September 1st. Goldman Sachs Group lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price for the company. in a research report on Tuesday, September 5th. KeyCorp reissued a “hold” rating on shares of AvalonBay Communities in a research report on Sunday, September 24th. Finally, Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 target price for the company in a research report on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. AvalonBay Communities presently has an average rating of “Hold” and an average price target of $201.40.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). The business had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.20%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is 88.75%.
In other AvalonBay Communities news, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock valued at $5,628,669 over the last three months. 0.46% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ffcm LLC boosted its position in shares of AvalonBay Communities by 6.6% during the 2nd quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock valued at $2,064,000 after acquiring an additional 667 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in AvalonBay Communities by 6.6% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock valued at $2,051,000 after buying an additional 716 shares during the period. AXA raised its holdings in AvalonBay Communities by 7.7% during the 2nd quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock valued at $21,485,000 after buying an additional 7,981 shares during the period. Koch Industries Inc. purchased a new stake in AvalonBay Communities during the 2nd quarter valued at $365,000. Finally, PGGM Investments raised its holdings in AvalonBay Communities by 5.6% during the 3rd quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock valued at $293,003,000 after buying an additional 86,594 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.
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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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