Zacks Research Has Optimistic Outlook of AVB FY2024 Earnings

AvalonBay Communities, Inc. (NYSE:AVB - Free Report) - Investment analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of AvalonBay Communities in a research note issued on Monday, November 25th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $11.02 per share for the year, up from their previous forecast of $10.98. The consensus estimate for AvalonBay Communities' current full-year earnings is $11.03 per share. Zacks Research also issued estimates for AvalonBay Communities' Q4 2024 earnings at $2.81 EPS, Q1 2025 earnings at $2.83 EPS, Q2 2025 earnings at $2.88 EPS, Q3 2025 earnings at $2.88 EPS, Q4 2025 earnings at $2.92 EPS, FY2025 earnings at $11.51 EPS, Q1 2026 earnings at $2.97 EPS, Q2 2026 earnings at $3.02 EPS, Q3 2026 earnings at $3.06 EPS and FY2026 earnings at $12.15 EPS.

AVB has been the topic of a number of other research reports. Evercore ISI lifted their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Wells Fargo & Company boosted their target price 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. BNP Paribas initiated coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price target on the stock. Piper Sandler lifted their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada decreased their target price on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 6th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $226.88.

AvalonBay Communities Stock Performance

Shares of AVB stock traded up $2.35 during trading on Wednesday, reaching $237.74. The company had a trading volume of 532,297 shares, compared to its average volume of 720,644. The company has a market capitalization of $33.82 billion, a PE ratio of 32.52, a PEG ratio of 3.40 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm's 50 day simple moving average is $226.60 and its two-hundred day simple moving average is $214.71. AvalonBay Communities has a one year low of $169.37 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter last year, the business earned $2.66 earnings per share.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.86%. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

Insider Activity at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVB. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities during the 3rd quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its stake in AvalonBay Communities by 1,877.8% in the second 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 during the last quarter. Brooklyn Investment Group acquired a new stake in AvalonBay Communities during the 3rd quarter worth $39,000. Finally, Mather Group LLC. raised its position in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 92.61% 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.