Equities Analysts Set Expectations for AVB FY2024 Earnings

AvalonBay Communities, Inc. (NYSE:AVB) – Equities researchers at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for AvalonBay Communities in a research report 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.

Several other research analysts have also issued reports on AVB. Truist Financial upped their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Evercore ISI upped their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their price objective on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada dropped their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $226.88.

AvalonBay Communities Price Performance

AVB stock opened at $237.81 on Wednesday. The firm has a 50 day simple moving average of $226.74 and a two-hundred day simple moving average of $214.87. 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 stock has a market cap of $33.83 billion, a PE ratio of 32.53, a P/E/G ratio of 3.40 and a beta of 0.97. AvalonBay Communities has a one year low of $169.37 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data 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 business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the previous year, the firm posted $2.66 EPS.

Hedge Funds Weigh In On AvalonBay Communities

Large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new position in AvalonBay Communities in the 3rd quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities in the second quarter worth $32,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities during the third quarter valued at $39,000. Versant Capital Management Inc boosted its position in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 169 shares during the last quarter. Finally, Mather Group LLC. boosted its position in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now directly owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is owned by company insiders.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

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.