AvalonBay Communities, Inc. (NYSE:AVB) – Equities research analysts at Jefferies Group reduced their FY2017 earnings per share estimates for AvalonBay Communities in a report issued on Monday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $8.50 for the year, down from their previous estimate of $8.55. Jefferies Group currently has a “Hold” rating and a $196.00 target price on the stock.
AVB has been the topic of several other reports. Argus assumed coverage on shares of AvalonBay Communities in a research report on Thursday, June 22nd. They set a “buy” rating and a $220.00 price target on the stock. BidaskClub upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, August 2nd. Deutsche Bank AG upped their price target on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Finally, Barclays PLC upped their price target on shares of AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $196.00.
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AvalonBay Communities (NYSE:AVB) traded down 0.25% during mid-day trading on Wednesday, hitting $179.63. The stock had a trading volume of 125,885 shares. AvalonBay Communities has a 1-year low of $158.32 and a 1-year high of $199.52. The company has a market cap of $24.74 billion, a P/E ratio of 24.74 and a beta of 0.36. The company has a 50-day moving average price of $181.78 and a 200 day moving average price of $188.35.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.14 by ($0.05). The business had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same quarter in the previous year, the company earned $2.03 EPS.
Several hedge funds have recently added to or reduced their stakes in AVB. Creative Planning raised its stake in shares of AvalonBay Communities by 0.4% during the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 2 shares during the last quarter. WFG Advisors LP raised its stake in shares of AvalonBay Communities by 24.9% during the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 167 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of AvalonBay Communities by 546.9% during the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $191,000 after acquiring an additional 875 shares during the last quarter. Eqis Capital Management Inc. bought a new position in shares of AvalonBay Communities during the second quarter valued at $201,000. Finally, Bbva Compass Bancshares Inc. bought a new position in shares of AvalonBay Communities during the second quarter valued at $206,000. 97.50% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Thursday, September 28th. AvalonBay Communities’s payout ratio is currently 78.13%.
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.
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