Q4 EPS Estimate for AvalonBay Communities Cut by Analyst

AvalonBay Communities, Inc. (NYSE:AVB) – Equities research analysts at Wedbush cut their Q4 2024 earnings per share estimates for AvalonBay Communities in a research report issued to clients and investors on Wednesday, November 6th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $2.82 per share for the quarter, down from their prior forecast of $2.86. The consensus estimate for AvalonBay Communities’ current full-year earnings is $11.01 per share.

A number of other research firms also recently commented on AVB. Scotiabank upped their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Royal Bank of Canada reduced their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research note on Wednesday. BNP Paribas began coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Piper Sandler boosted their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Evercore ISI increased their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $227.06.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $228.04 on Friday. The firm’s 50 day moving average price is $225.66 and its two-hundred day moving average price is $210.60. The stock has a market cap of $32.43 billion, a PE ratio of 31.20, a PEG ratio of 3.33 and a beta of 0.97. AvalonBay Communities has a 52-week low of $164.76 and a 52-week high of $236.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.87%. During the same period last year, the business posted $2.66 EPS.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 2.98%. AvalonBay Communities’s dividend payout ratio is currently 93.02%.

Institutional Investors Weigh In On AvalonBay Communities

A number of large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities in the 2nd quarter valued at about $32,000. Versant Capital Management Inc boosted its stake in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 169 shares during the period. BROOKFIELD Corp ON acquired a new stake in AvalonBay Communities during the first quarter worth approximately $39,000. Mather Group LLC. increased its stake in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 56 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

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.