AvalonBay Communities (AVB) to Release Quarterly Earnings on Monday

AvalonBay Communities (NYSE:AVB) is scheduled to announce its earnings results after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $2.71 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the firm posted $2.66 EPS. On average, analysts expect AvalonBay Communities to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

AvalonBay Communities Price Performance

NYSE AVB opened at $216.28 on Friday. The stock’s 50-day moving average price is $225.55 and its two-hundred day moving average price is $209.53. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a market cap of $30.76 billion, a PE ratio of 36.60, a PEG ratio of 3.47 and a beta of 0.97. AvalonBay Communities has a 1 year low of $164.76 and a 1 year high of $236.26.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.14%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 115.06%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AVB shares. JPMorgan Chase & Co. lifted their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. BNP Paribas initiated coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Piper Sandler boosted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Evercore ISI boosted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Scotiabank boosted their price target on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $225.88.

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.