AvalonBay Communities, Inc. (NYSE:AVB) Expected to Post Quarterly Sales of $570.77 Million

Analysts expect AvalonBay Communities, Inc. (NYSE:AVB) to post $570.77 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for AvalonBay Communities’ earnings. The highest sales estimate is $580.94 million and the lowest is $565.25 million. AvalonBay Communities posted sales of $567.40 million during the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The company is expected to issue its next quarterly earnings results on Wednesday, October 27th.

According to Zacks, analysts expect that AvalonBay Communities will report full-year sales of $2.26 billion for the current year, with estimates ranging from $2.25 billion to $2.28 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.43 billion, with estimates ranging from $2.38 billion to $2.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, July 27th. The real estate investment trust reported $3.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.93 by $1.28. AvalonBay Communities had a net margin of 48.25% and a return on equity of 10.04%.

AVB has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of AvalonBay Communities in a research report on Thursday. They issued a “buy” rating and a $257.00 price objective on the stock. BTIG Research increased their price objective on shares of AvalonBay Communities from $251.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating and increased their price objective for the company from $176.00 to $225.00 in a research report on Thursday. Barclays initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, September 1st. They issued an “underweight” rating and a $225.00 price objective on the stock. Finally, Mizuho raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $231.00 price objective on the stock in a research report on Thursday, June 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $217.06.

Shares of AVB traded down $2.20 during trading hours on Friday, hitting $224.21. The company had a trading volume of 8,887 shares, compared to its average volume of 749,516. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 6.37 and a beta of 0.93. The business has a fifty day moving average of $226.08 and a 200-day moving average of $209.37. AvalonBay Communities has a 12 month low of $131.38 and a 12 month high of $233.48. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.69.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Monday, October 4th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date is Friday, October 1st. AvalonBay Communities’s dividend payout ratio is currently 73.19%.

In related news, SVP Keri A. Shea sold 426 shares of AvalonBay Communities stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $229.52, for a total transaction of $97,775.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Naughton sold 21,843 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $228.49, for a total value of $4,990,907.07. The disclosure for this sale can be found here. Insiders sold 31,253 shares of company stock valued at $7,126,588 in the last quarter. Corporate insiders own 0.36% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AVB. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of AvalonBay Communities by 11.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the real estate investment trust’s stock valued at $90,000 after purchasing an additional 46 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of AvalonBay Communities by 26.0% in the 1st quarter. First Horizon Advisors Inc. now owns 257 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 53 shares during the period. Veriti Management LLC lifted its position in AvalonBay Communities by 1.9% during the 2nd quarter. Veriti Management LLC now owns 2,877 shares of the real estate investment trust’s stock worth $600,000 after acquiring an additional 53 shares during the period. Lido Advisors LLC increased its stake in AvalonBay Communities by 1.2% during the 1st quarter. Lido Advisors LLC now owns 5,095 shares of the real estate investment trust’s stock worth $948,000 after buying an additional 62 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in AvalonBay Communities by 0.6% during the 1st quarter. Elo Mutual Pension Insurance Co now owns 10,072 shares of the real estate investment trust’s stock worth $1,858,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 87.70% of the company’s stock.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.

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Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

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