Wedbush Analysts Decrease Earnings Estimates for AVB

AvalonBay Communities, Inc. (NYSE:AVB - Free Report) - Research analysts at Wedbush decreased their Q4 2024 earnings estimates for shares of AvalonBay Communities in a research report issued on Wednesday, November 6th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $2.82 per share for the quarter, down from their previous forecast of $2.86. The consensus estimate for AvalonBay Communities' current full-year earnings is $11.01 per share.

A number of other equities analysts have also commented on AVB. Zelman & Associates raised shares of AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. Piper Sandler raised their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Wells Fargo & Company upped their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, August 26th. Finally, UBS Group raised their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a "neutral" rating in a report on Thursday, July 18th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $227.06.

AvalonBay Communities Stock Performance

AVB stock traded up $5.84 during trading hours on Friday, hitting $233.88. 782,641 shares of the stock were exchanged, compared to its average volume of 730,176. AvalonBay Communities has a 12 month low of $164.76 and a 12 month high of $236.26. 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 firm has a market capitalization of $33.26 billion, a P/E ratio of 31.99, a P/E/G ratio of 3.33 and a beta of 0.97. The company has a 50-day simple moving average of $225.92 and a two-hundred day simple moving average of $211.05.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.87%. During the same period in the previous year, the company posted $2.66 EPS.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Monday, September 30th. AvalonBay Communities's payout ratio is currently 93.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of AvalonBay Communities by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust's stock worth $429,145,000 after acquiring an additional 13,631 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in AvalonBay Communities by 14.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust's stock worth $367,534,000 after purchasing an additional 249,400 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of AvalonBay Communities by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust's stock worth $342,824,000 after purchasing an additional 8,809 shares during the period. Bank of New York Mellon Corp lifted its position in shares of AvalonBay Communities by 11.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust's stock worth $244,776,000 after purchasing an additional 126,055 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of AvalonBay Communities by 11.9% in the 1st quarter. Russell Investments Group Ltd. now owns 784,723 shares of the real estate investment trust's stock valued at $145,576,000 after purchasing an additional 83,400 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

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.