AvalonBay Communities (NYSE:AVB) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.16-2.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.22.
AVB traded down $0.11 during trading on Wednesday, hitting $161.79. 729,063 shares of the company’s stock were exchanged, compared to its average volume of 824,576. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a 1 year low of $152.65 and a 1 year high of $199.52. The company has a market cap of $22,233.38, a P/E ratio of 18.77, a P/E/G ratio of 2.52 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $1.03. The company had revenue of $555.29 million during the quarter, compared to the consensus estimate of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. AvalonBay Communities’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 earnings per share. research analysts anticipate that AvalonBay Communities will post 8.95 earnings per share for the current year.
AVB has been the topic of several recent analyst reports. Mizuho set a $185.00 price target on shares of AvalonBay Communities and gave the company a buy rating in a report on Friday, February 9th. Robert W. Baird reissued a buy rating and set a $187.00 target price on shares of AvalonBay Communities in a report on Tuesday, January 9th. Argus dropped their target price on shares of AvalonBay Communities from $210.00 to $190.00 and set a buy rating on the stock in a report on Thursday, March 1st. Sandler O’Neill cut shares of AvalonBay Communities from a buy rating to a hold rating in a report on Friday, February 2nd. Finally, Barclays dropped their target price on shares of AvalonBay Communities from $189.00 to $186.00 and set an equal weight rating on the stock in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $189.24.
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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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