AvalonBay Communities (NYSE:AVB) Issues Q1 Earnings Guidance

AvalonBay Communities (NYSE:AVB) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $2.14 to $2.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.22. AvalonBay Communities also updated its FY17 guidance to $8.73 to $9.13 EPS.

Shares of AvalonBay Communities (NYSE:AVB) traded up $1.74 on Thursday, hitting $160.66. The stock had a trading volume of 174,231 shares, compared to its average volume of 834,918. The company has a market cap of $22,011.21, a P/E ratio of 24.99, a PEG ratio of 2.45 and a beta of 0.34. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a 12-month low of $154.82 and a 12-month high of $199.52.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $1.03. The firm had revenue of $555.29 million during the quarter, compared to the consensus estimate of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. equities research analysts expect that AvalonBay Communities will post 9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.66%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Wednesday, March 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 89.31%.

A number of equities analysts recently weighed in on the company. UBS Group raised AvalonBay Communities from a neutral rating to a buy rating and raised their price objective for the company from $190.00 to $206.00 in a report on Thursday, November 9th. BMO Capital Markets reaffirmed a hold rating and issued a $190.00 price target on shares of AvalonBay Communities in a research note on Monday, November 27th. JPMorgan Chase & Co. cut AvalonBay Communities from an overweight rating to a neutral rating and set a $211.00 price target on the stock. in a research note on Friday, December 15th. Royal Bank of Canada decreased their price target on AvalonBay Communities from $206.00 to $200.00 and set an outperform rating on the stock in a research note on Monday, November 6th. Finally, Mizuho reaffirmed a buy rating and issued a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. AvalonBay Communities presently has an average rating of Hold and a consensus target price of $194.82.

In other AvalonBay Communities news, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total value of $365,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,660 shares of company stock valued at $5,628,669. 0.46% of the stock is owned by company insiders.

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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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