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.
TRADEMARK VIOLATION WARNING: This piece was published by Stock Observer and is the sole property of of Stock Observer. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.thestockobserver.com/2018/02/05/zacks-analysts-expect-avalonbay-communities-inc-avb-will-announce-quarterly-sales-of-557-14-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.