AvalonBay Communities (AVB) Set to Announce Quarterly Earnings on Monday

AvalonBay Communities (NYSE:AVB - Get Free Report) is set to release its earnings data after the market closes on Monday, November 4th. Analysts expect AvalonBay Communities to post earnings of $2.71 per share for the quarter. Persons that are interested in participating in the company's earnings conference call can do so using this link.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share 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 analysts' expectations of $718.49 million. During the same quarter in the previous year, the firm posted $2.66 EPS. On average, analysts expect AvalonBay Communities to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

AvalonBay Communities Stock Up 1.1 %

Shares of AVB stock traded up $2.53 during trading hours on Monday, reaching $228.88. 648,717 shares of the company's stock were exchanged, compared to its average volume of 725,480. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $236.26. The stock has a market cap of $32.54 billion, a PE ratio of 34.06, a PEG ratio of 3.33 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average price is $225.16 and its two-hundred day moving average price is $208.76.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 2.97%. AvalonBay Communities's dividend payout ratio is currently 101.19%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Royal Bank of Canada upped their target price on AvalonBay Communities from $207.00 to $214.00 and gave the company a "sector perform" rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Scotiabank upped their target price on AvalonBay Communities from $229.00 to $244.00 and gave the company a "sector perform" rating in a research report on Monday, September 16th. Finally, Evercore ISI upped their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $225.88.

Insider Transactions at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 4,383 shares of the company's stock, valued at $908,026.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares of the company's stock, valued at approximately $908,026.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares of the company's stock, valued at approximately $13,780,506.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

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.