AvalonBay Communities, Inc. (NYSE:AVB) – Research analysts at KeyCorp dropped their FY2020 earnings estimates for AvalonBay Communities in a report issued on Wednesday, October 14th. KeyCorp analyst A. Wurschmidt now expects that the real estate investment trust will post earnings per share of $8.89 for the year, down from their prior forecast of $9.23.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.04). The firm had revenue of $576.41 million for the quarter, compared to analysts’ expectations of $587.58 million. AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.32%. During the same quarter in the prior year, the business earned $2.27 EPS.

Several other research analysts also recently weighed in on AVB. Truist lowered their target price on AvalonBay Communities from $189.00 to $183.00 in a research note on Thursday, August 20th. Zacks Investment Research upgraded AvalonBay Communities from a “sell” rating to a “hold” rating and set a $165.00 target price on the stock in a research note on Tuesday, August 25th. Jefferies Financial Group downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and lowered their target price for the company from $174.00 to $152.00 in a research note on Tuesday, October 13th. UBS Group started coverage on AvalonBay Communities in a research note on Friday. They issued a “neutral” rating and a $165.00 target price on the stock. Finally, Morgan Stanley lifted their target price on AvalonBay Communities from $143.00 to $150.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $181.13.

NYSE:AVB opened at $148.94 on Friday. The stock’s 50 day moving average price is $155.00 and its 200 day moving average price is $155.68. AvalonBay Communities has a 52-week low of $118.17 and a 52-week high of $229.40. The company has a market capitalization of $20.96 billion, a PE ratio of 26.60, a P/E/G ratio of 15.34 and a beta of 0.82. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.70.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $1.59 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $6.36 annualized dividend and a dividend yield of 4.27%. AvalonBay Communities’s dividend payout ratio is currently 68.09%.

Several institutional investors and hedge funds have recently bought and sold shares of AVB. First Hawaiian Bank raised its holdings in AvalonBay Communities by 3.6% during the third quarter. First Hawaiian Bank now owns 2,118 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 73 shares during the last quarter. CSat Investment Advisory L.P. raised its holdings in AvalonBay Communities by 17.7% during the second quarter. CSat Investment Advisory L.P. now owns 746 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 112 shares during the last quarter. Alps Advisors Inc. raised its holdings in AvalonBay Communities by 3.0% during the second quarter. Alps Advisors Inc. now owns 4,356 shares of the real estate investment trust’s stock worth $674,000 after purchasing an additional 127 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in AvalonBay Communities by 39.3% during the second quarter. Orion Portfolio Solutions LLC now owns 535 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 151 shares during the last quarter. Finally, BBVA USA Bancshares Inc. raised its holdings in AvalonBay Communities by 6.2% during the second quarter. BBVA USA Bancshares Inc. now owns 2,825 shares of the real estate investment trust’s stock worth $437,000 after purchasing an additional 165 shares during the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

About AvalonBay Communities

As of June 30, 2020, the Company owned or held a direct or indirect ownership interest in 295 apartment communities containing 86,380 apartment homes in 11 states and the District of Columbia, of which 19 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 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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