AvalonBay Communities, Inc. (NYSE:AVB) – Stock analysts at KeyCorp upped their Q1 2018 earnings per share estimates for shares of AvalonBay Communities in a research report issued to clients and investors on Thursday. KeyCorp analyst A. Wurschmidt now anticipates that the real estate investment trust will earn $2.28 per share for the quarter, up from their prior estimate of $2.27. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for AvalonBay Communities’ FY2018 earnings at $9.16 EPS.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The firm had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. During the same quarter last year, the business posted $2.11 earnings per share. AvalonBay Communities’s revenue was up 6.6% compared to the same quarter last year.
A number of other equities analysts have also commented on the stock. Robert W. Baird restated a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research report on Tuesday. JPMorgan Chase & Co. lowered shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price objective for the company. in a research report on Friday, December 15th. BMO Capital Markets restated a “hold” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 27th. UBS Group upgraded shares of 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 research report on Thursday, November 9th. Finally, Royal Bank of Canada cut their price objective on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $200.40.
AvalonBay Communities (AVB) opened at $168.23 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. AvalonBay Communities has a 1 year low of $167.51 and a 1 year high of $199.52. The company has a market cap of $23,443.18, a P/E ratio of 26.29, a PEG ratio of 2.52 and a beta of 0.35.
Hedge funds have recently bought and sold shares of the business. Amica Retiree Medical Trust purchased a new position in shares of AvalonBay Communities during the third quarter worth approximately $132,000. 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 worth $161,000 after acquiring an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of AvalonBay Communities during the second quarter worth approximately $226,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of AvalonBay Communities during the third quarter worth approximately $227,000. Finally, Lincoln National Corp purchased a new position in shares of AvalonBay Communities during the third quarter worth approximately $239,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.
In other AvalonBay Communities news, COO Sean J. Breslin sold 1,500 shares of AvalonBay Communities stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $181.89, for a total transaction of $363,780.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,660 shares of company stock valued at $5,628,669. 0.46% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a yield of 3.38%. AvalonBay Communities’s payout ratio is presently 88.75%.
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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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