FY2024 Earnings Forecast for AvalonBay Communities, Inc. Issued By Zacks Research (NYSE:AVB)

AvalonBay Communities, Inc. (NYSE:AVB - Free Report) - Investment analysts at Zacks Research upped their FY2024 EPS estimates for AvalonBay Communities in a research report issued to clients and investors on Wednesday, August 21st. Zacks Research analyst R. Department now anticipates that the real estate investment trust will earn $10.98 per share for the year, up from their previous estimate of $10.83. The consensus estimate for AvalonBay Communities' current full-year earnings is $10.97 per share. Zacks Research also issued estimates for AvalonBay Communities' Q4 2024 earnings at $2.82 EPS, Q2 2025 earnings at $2.83 EPS, Q4 2025 earnings at $2.90 EPS, FY2025 earnings at $11.38 EPS and Q2 2026 earnings at $2.99 EPS.

AVB has been the topic of a number of other reports. Barclays increased their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an "overweight" rating in a research note on Monday, April 29th. Scotiabank increased their price objective on shares of AvalonBay Communities from $213.00 to $218.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 7th. UBS Group raised their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a "neutral" rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the company a "neutral" rating in a research note on Monday, June 17th. Finally, Evercore ISI reduced their price target on shares of AvalonBay Communities from $218.00 to $216.00 and set an "in-line" rating on the stock in a research note on Monday, August 12th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $211.12.

AvalonBay Communities Price Performance

AvalonBay Communities stock traded up $0.98 during trading hours on Thursday, reaching $218.02. 424,523 shares of the stock were exchanged, compared to its average volume of 721,653. The company has a market cap of $31.00 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a twelve month low of $160.45 and a twelve month high of $218.79. The stock has a 50 day moving average of $207.02 and a two-hundred day moving average of $193.54.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. During the same period in the prior year, the business posted $2.66 earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in shares of AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 169 shares in the last quarter. Byrne Asset Management LLC increased its stake in shares of AvalonBay Communities by 270.0% in the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. BROOKFIELD Corp ON bought a new stake in shares of AvalonBay Communities in the 1st quarter valued at $39,000. Finally, Pinnacle Bancorp Inc. increased its stake in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

Insider Buying and Selling

In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company's stock, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

About AvalonBay Communities

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.