AvalonBay Communities (AVB) Updates Q2 Earnings Guidance

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.

The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were issued a $1.47 dividend. The ex-dividend date was Wednesday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. This represents a $5.88 annualized dividend and a yield of 3.63%. AvalonBay Communities’s dividend payout ratio is currently 68.21%.

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.

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

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