$594.05 Million in Sales Expected for AvalonBay Communities Inc (NYSE:AVB) This Quarter

Equities analysts expect AvalonBay Communities Inc (NYSE:AVB) to report sales of $594.05 million for the current quarter, Zacks reports. Seven analysts have made estimates for AvalonBay Communities’ earnings, with the highest sales estimate coming in at $602.91 million and the lowest estimate coming in at $586.22 million. AvalonBay Communities posted sales of $578.52 million in the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The company is expected to issue its next earnings report after the market closes on Wednesday, February 5th.

On average, analysts expect that AvalonBay Communities will report full-year sales of $2.32 billion for the current year, with estimates ranging from $2.31 billion to $2.33 billion. For the next financial year, analysts anticipate that the business will post sales of $2.45 billion, with estimates ranging from $2.38 billion to $2.50 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, October 28th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.80. AvalonBay Communities had a net margin of 45.56% and a return on equity of 9.35%. The company had revenue of $587.61 million during the quarter, compared to the consensus estimate of $585.86 million. During the same quarter in the prior year, the firm earned $1.39 EPS.

A number of equities research analysts have issued reports on AVB shares. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $230.00 target price for the company in a research report on Wednesday, January 15th. Goldman Sachs Group started coverage on shares of AvalonBay Communities in a research report on Friday, November 8th. They issued a “buy” rating and a $244.00 target price for the company. Barclays reiterated a “hold” rating and issued a $240.00 target price on shares of AvalonBay Communities in a research report on Sunday, October 13th. Jefferies Financial Group upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and increased their price target for the stock from $234.00 to $248.00 in a research note on Thursday, January 16th. Finally, Deutsche Bank increased their price target on shares of AvalonBay Communities from $218.00 to $221.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $226.69.

In related news, CEO Timothy J. Naughton sold 26,634 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $213.60, for a total value of $5,689,022.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Sean J. Breslin sold 777 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $213.51, for a total transaction of $165,897.27. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

A number of large investors have recently bought and sold shares of AVB. Nuveen Asset Management LLC grew its stake in AvalonBay Communities by 157.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,135,697 shares of the real estate investment trust’s stock valued at $433,931,000 after buying an additional 1,305,014 shares during the last quarter. State Street Corp grew its stake in AvalonBay Communities by 2.5% in the 3rd quarter. State Street Corp now owns 10,133,144 shares of the real estate investment trust’s stock valued at $2,197,253,000 after buying an additional 243,424 shares during the last quarter. California Public Employees Retirement System grew its stake in AvalonBay Communities by 25.6% in the 2nd quarter. California Public Employees Retirement System now owns 1,071,065 shares of the real estate investment trust’s stock valued at $217,619,000 after buying an additional 218,169 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in AvalonBay Communities by 8.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,511,273 shares of the real estate investment trust’s stock valued at $510,240,000 after buying an additional 187,752 shares during the last quarter. Finally, PGGM Investments grew its stake in AvalonBay Communities by 8.8% in the 4th quarter. PGGM Investments now owns 2,084,685 shares of the real estate investment trust’s stock valued at $437,158,000 after buying an additional 168,685 shares during the last quarter. Institutional investors and hedge funds own 92.09% of the company’s stock.

AVB stock traded up $0.84 during midday trading on Friday, reaching $219.33. The company had a trading volume of 566,780 shares, compared to its average volume of 715,930. AvalonBay Communities has a 1 year low of $185.36 and a 1 year high of $222.87. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $30.26 billion, a P/E ratio of 30.34, a PEG ratio of 3.59 and a beta of 0.45. The company has a 50 day moving average of $210.78 and a two-hundred day moving average of $211.76.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.52 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $6.08 annualized dividend and a dividend yield of 2.77%. AvalonBay Communities’s dividend payout ratio (DPR) is 67.56%.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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