AvalonBay Communities, Inc. Announces Quarterly Dividend of $1.78 (NYSE:AVB)

AvalonBay Communities, Inc. (NYSE:AVB – Get Free Report) announced a quarterly dividend on Tuesday, June 9th. Investors of record on Tuesday, June 30th will be given a dividend of 1.78 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, June 30th.

AvalonBay Communities has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. AvalonBay Communities has a dividend payout ratio of 124.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect AvalonBay Communities to earn $11.71 per share next year, which means the company should continue to be able to cover its $7.12 annual dividend with an expected future payout ratio of 60.8%.

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AvalonBay Communities Stock Down 0.4%

AVB stock opened at $186.89 on Wednesday. AvalonBay Communities has a 12 month low of $160.10 and a 12 month high of $209.86. The firm has a market cap of $26.00 billion, a PE ratio of 27.09, a P/E/G ratio of 3.26 and a beta of 0.78. The firm has a 50 day simple moving average of $178.59 and a 200 day simple moving average of $177.52. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62.

AvalonBay Communities (NYSE:AVB – Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The business had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. During the same period in the prior year, the company earned $2.83 earnings per share. Equities research analysts forecast that AvalonBay Communities will post 11.31 earnings per share for the current fiscal year.

About AvalonBay Communities

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AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.

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