AvalonBay Communities (AVB) to Release Quarterly Earnings on Thursday

AvalonBay Communities (NYSE:AVB) is scheduled to announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $2.64 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The business had revenue of $704.71 million during the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period last year, the firm earned $2.59 EPS. On average, analysts expect AvalonBay Communities to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $186.87 on Tuesday. The company has a 50 day moving average of $181.41 and a 200 day moving average of $178.22. The stock has a market cap of $26.57 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.43 and a beta of 0.92. AvalonBay Communities has a 12 month low of $160.45 and a 12 month high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $6.80 annualized dividend and a yield of 3.64%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s payout ratio is currently 103.82%.

Insider Activity

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at approximately $4,054,985.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $207.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $185.00 price objective on shares of AvalonBay Communities in a research note on Friday, February 2nd. Barclays raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $194.00 to $204.00 in a research note on Tuesday, February 20th. Mizuho cut their price target on shares of AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of AvalonBay Communities in a research note on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price target for the company. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $196.78.

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.