AvalonBay Communities (AVB) Scheduled to Post Earnings on Thursday

AvalonBay Communities (NYSE:AVB) is set to release its earnings data after the market closes on Thursday, April 25th. Analysts expect AvalonBay Communities to post earnings of $2.64 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

AvalonBay Communities (NYSE:AVB) last posted 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 company had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. During the same period last year, the company posted $2.59 earnings per share. 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 Trading Up 1.0 %

NYSE AVB opened at $188.66 on Wednesday. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $26.82 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.43 and a beta of 0.92. The firm’s fifty day simple moving average is $181.74 and its 200-day simple moving average is $178.34.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.70 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.60%. AvalonBay Communities’s dividend payout ratio is 103.82%.

Insider Buying and Selling

In related news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities 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 sale, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction that occurred 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 sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the sale, 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 company insiders.

Wall Street Analyst Weigh In

AVB has been the topic of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Wolfe Research lowered AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Piper Sandler restated an “overweight” rating and set a $207.00 target price on shares of AvalonBay Communities in a report on Tuesday, March 26th. Barclays upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $194.00 to $204.00 in a report on Tuesday, February 20th. Finally, Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $175.00 to $191.50 in a report on Monday, February 26th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, 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.