Equities Analysts Offer Predictions for AVB FY2024 Earnings

AvalonBay Communities, Inc. (NYSE:AVB) – Equities researchers at Zacks Research increased their FY2024 EPS estimates for AvalonBay Communities in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $11.02 per share for the year, up from their prior forecast of $10.98. The consensus estimate for AvalonBay Communities’ current full-year earnings is $11.03 per share. Zacks Research also issued estimates for AvalonBay Communities’ Q4 2024 earnings at $2.81 EPS, Q1 2025 earnings at $2.83 EPS, Q2 2025 earnings at $2.88 EPS, Q3 2025 earnings at $2.88 EPS, Q4 2025 earnings at $2.92 EPS, FY2025 earnings at $11.51 EPS, Q1 2026 earnings at $2.97 EPS, Q2 2026 earnings at $3.02 EPS, Q3 2026 earnings at $3.06 EPS and FY2026 earnings at $12.15 EPS.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The firm had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period in the previous year, the firm posted $2.66 earnings per share.

A number of other research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Scotiabank reduced their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $226.88.

AvalonBay Communities Trading Up 1.1 %

NYSE AVB opened at $235.45 on Wednesday. The company’s fifty day simple moving average is $226.45 and its 200-day simple moving average is $214.54. AvalonBay Communities has a 52 week low of $169.37 and a 52 week high of $236.49. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $33.49 billion, a P/E ratio of 32.21, a PEG ratio of 3.39 and a beta of 0.97.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.89%. AvalonBay Communities’s payout ratio is 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the transaction, the director now owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On AvalonBay Communities

Several institutional investors have recently modified their holdings of the company. State Street Corp grew its position in shares of AvalonBay Communities by 2.2% during the third quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock worth $2,097,971,000 after acquiring an additional 196,938 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AvalonBay Communities by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust’s stock worth $805,113,000 after purchasing an additional 27,988 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in AvalonBay Communities by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock worth $504,658,000 after purchasing an additional 78,800 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AvalonBay Communities by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after purchasing an additional 13,631 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AvalonBay Communities by 678.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after purchasing an additional 1,494,872 shares during the period. 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.