Q1 2018 EPS Estimates for AvalonBay Communities, Inc. (AVB) Boosted by Analyst

AvalonBay Communities, Inc. (NYSE:AVB) – KeyCorp boosted their Q1 2018 earnings estimates for shares of AvalonBay Communities in a report released on Thursday. KeyCorp analyst A. Wurschmidt now expects that the real estate investment trust will post earnings per share of $2.28 for the quarter, up from their prior estimate of $2.27. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for AvalonBay Communities’ FY2018 earnings at $9.16 EPS.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share 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 return on equity of 8.66% and a net margin of 41.55%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $2.11 earnings per share.

A number of other research firms also recently weighed in on AVB. UBS Group raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. BMO Capital Markets reissued a “hold” rating and set a $190.00 price target on shares of AvalonBay Communities in a research note on Monday, November 27th. JPMorgan Chase & Co. downgraded shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target for the company. in a research note on Friday, December 15th. Royal Bank of Canada dropped their price target on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Finally, Mizuho reissued a “buy” rating and set a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $200.40.

AvalonBay Communities (NYSE:AVB) traded down $1.19 on Friday, hitting $169.77. 468,100 shares of the company were exchanged, compared to its average volume of 555,000. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $23,440.00, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 2.58 and a beta of 0.35. AvalonBay Communities has a twelve month low of $169.50 and a twelve month high of $199.52.

Several hedge funds have recently made changes to their positions in AVB. Federated Investors Inc. PA lifted its position in shares of AvalonBay Communities by 212.0% in the second quarter. Federated Investors Inc. PA now owns 5,782 shares of the real estate investment trust’s stock worth $1,111,000 after purchasing an additional 3,929 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of AvalonBay Communities by 2.5% in the second quarter. Riverhead Capital Management LLC now owns 5,673 shares of the real estate investment trust’s stock worth $1,090,000 after purchasing an additional 141 shares in the last quarter. Norinchukin Bank The lifted its position in shares of AvalonBay Communities by 7.1% in the second quarter. Norinchukin Bank The now owns 9,561 shares of the real estate investment trust’s stock worth $1,837,000 after purchasing an additional 637 shares in the last quarter. BlackRock Inc. lifted its position in shares of AvalonBay Communities by 1.1% in the second quarter. BlackRock Inc. now owns 14,559,192 shares of the real estate investment trust’s stock worth $2,797,838,000 after purchasing an additional 161,167 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of AvalonBay Communities by 61.1% in the second quarter. Amalgamated Bank now owns 15,513 shares of the real estate investment trust’s stock worth $2,981,000 after purchasing an additional 5,881 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

In other news, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $182.65, for a total value of $273,975.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy J. Naughton sold 25,160 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. The disclosure for this sale can be found here. In the last three months, insiders sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is currently owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is presently 89.03%.

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About AvalonBay Communities

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.

Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

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