Zacks: Analysts Expect AvalonBay Communities Inc (AVB) Will Announce Quarterly Sales of $557.14 Million

Equities research analysts predict that AvalonBay Communities Inc (NYSE:AVB) will post sales of $557.14 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for AvalonBay Communities’ earnings, with estimates ranging from $550.91 million to $561.70 million. AvalonBay Communities posted sales of $522.33 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.

On average, analysts expect that AvalonBay Communities will report full year sales of $557.14 million for the current year, with estimates ranging from $2.14 billion to $2.34 billion. For the next year, analysts anticipate that the business will post sales of $2.37 billion per share, with estimates ranging from $2.19 billion to $2.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $1.03. The business had revenue of $555.29 million during the quarter, compared to analysts’ expectations of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share.

A number of analysts have recently commented on the company. SunTrust Banks restated a “buy” rating and issued a $186.00 price objective on shares of AvalonBay Communities in a research report on Friday. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $185.00 price target on shares of AvalonBay Communities in a research note on Thursday. BMO Capital Markets reaffirmed a “hold” rating and issued a $187.00 price target on shares of AvalonBay Communities in a research note on Wednesday, January 31st. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 price target on shares of AvalonBay Communities in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $197.41.

AvalonBay Communities (NYSE:AVB) traded down $4.94 during trading on Friday, hitting $159.02. The stock had a trading volume of 1,446,775 shares, compared to its average volume of 654,731. The stock has a market capitalization of $21,960.00, a PE ratio of 25.04, a PEG ratio of 2.46 and a beta of 0.34. AvalonBay Communities has a 1-year low of $158.68 and a 1-year high of $199.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $5.88 dividend on an annualized basis and a yield of 3.70%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s payout ratio is 89.45%.

In other AvalonBay Communities news, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total transaction of $273,975.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total value of $365,500.00. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock worth $5,628,669 in the last three months. 0.46% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bartlett & Co. LLC boosted its stake in AvalonBay Communities by 112.8% during the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 361 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in AvalonBay Communities during the third quarter worth $132,000. WFG Advisors LP boosted its stake in 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 buying an additional 167 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in AvalonBay Communities during the second quarter worth $226,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in AvalonBay Communities during the third quarter worth $227,000. 95.24% of the stock is currently owned by institutional investors.

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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.

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Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

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