AvalonBay Communities Inc (NYSE:AVB) – Stock analysts at SunTrust Banks lowered their Q4 2017 earnings estimates for shares of AvalonBay Communities in a report issued on Thursday, according to Zacks Investment Research. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings of $2.24 per share for the quarter, down from their previous forecast of $2.26. SunTrust Banks also issued estimates for AvalonBay Communities’ Q1 2018 earnings at $2.24 EPS, Q2 2018 earnings at $2.28 EPS, Q3 2018 earnings at $2.29 EPS, Q4 2018 earnings at $2.33 EPS and FY2018 earnings at $9.14 EPS.
A number of other analysts also recently issued reports on AVB. BTIG Research lifted their price target on AvalonBay Communities from $191.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Deutsche Bank AG downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price target for the company. in a report on Wednesday. Jefferies Group LLC reaffirmed a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a report on Monday, April 24th. Mizuho reaffirmed a “buy” rating and set a $190.00 price target on shares of AvalonBay Communities in a report on Tuesday, February 7th. Finally, Barclays PLC lifted their price target on AvalonBay Communities from $174.00 to $188.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $192.00.
Shares of AvalonBay Communities (NYSE:AVB) traded down 0.39% on Monday, reaching $191.11. The company had a trading volume of 329,900 shares. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $194.11. The company has a 50 day moving average of $188.65 and a 200-day moving average of $178.37. The company has a market capitalization of $26.26 billion, a P/E ratio of 25.46 and a beta of 0.33.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, April 26th. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.11 by $0.02. AvalonBay Communities had a net margin of 50.56% and a return on equity of 10.36%. The business had revenue of $522.33 million for the quarter, compared to analyst estimates of $520.56 million. During the same period in the prior year, the company earned $1.97 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis.
Institutional investors have recently modified their holdings of the stock. Muzinich & Co. Inc. boosted its position in shares of AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 339 shares during the period. Whittier Trust Co. boosted its position in shares of AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 31 shares during the period. Edgestream Partners L.P. bought a new position in shares of AvalonBay Communities during the first quarter valued at about $216,000. Miles Capital Inc. bought a new position in shares of AvalonBay Communities during the first quarter valued at about $250,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of AvalonBay Communities during the fourth quarter valued at about $257,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.
In related news, EVP Edward M. Schulman sold 1,764 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $191.82, for a total value of $338,370.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Keri A. Shea sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $192.36, for a total value of $192,360.00. The disclosure for this sale can be found here. Insiders have sold 41,784 shares of company stock worth $7,964,242 in the last quarter. Insiders own 0.53% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 71.81%.
About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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