AvalonBay Communities (AVB) to Release Quarterly Earnings on Thursday

AvalonBay Communities (NYSE:AVB) will release its earnings data after the market closes on Thursday, April 25th. Analysts expect AvalonBay Communities to post earnings of $2.64 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The company had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period in the prior year, the firm earned $2.59 earnings per share. On average, analysts expect AvalonBay Communities to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.

AvalonBay Communities Trading Up 1.1 %

Shares of AVB opened at $180.95 on Thursday. AvalonBay Communities has a twelve month low of $160.45 and a twelve month high of $198.65. The firm has a market capitalization of $25.73 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $180.81 and its 200 day simple moving average is $177.82.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $1.70 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a yield of 3.76%. AvalonBay Communities’s dividend payout ratio is currently 103.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $185.00 target price on shares of AvalonBay Communities in a report on Friday, February 2nd. KeyCorp reissued a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price target for the company. The Goldman Sachs Group restated a “neutral” rating and set a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Finally, Wolfe Research lowered AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $196.78.

Insider Activity at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares in the company, valued at $4,054,985.70. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On AvalonBay Communities

Hedge funds have recently made changes to their positions in the business. Cetera Advisor Networks LLC raised its holdings in shares of AvalonBay Communities by 8.2% during the first quarter. Cetera Advisor Networks LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $369,000 after acquiring an additional 113 shares during the period. Private Advisor Group LLC grew its position in AvalonBay Communities by 18.0% during the 1st quarter. Private Advisor Group LLC now owns 2,007 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 306 shares in the last quarter. Prudential PLC acquired a new stake in AvalonBay Communities during the 1st quarter valued at $704,000. Cetera Investment Advisers lifted its holdings in shares of AvalonBay Communities by 54.4% in the first quarter. Cetera Investment Advisers now owns 5,260 shares of the real estate investment trust’s stock valued at $1,306,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of AvalonBay Communities by 7.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 12,461 shares of the real estate investment trust’s stock valued at $3,095,000 after purchasing an additional 901 shares in the last quarter. Institutional investors and hedge funds 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.