Brokerages Expect AvalonBay Communities, Inc. (NYSE:AVB) Will Announce Quarterly Sales of $547.58 Million

Brokerages expect that AvalonBay Communities, Inc. (NYSE:AVB) will announce $547.58 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for AvalonBay Communities’ earnings. The highest sales estimate is $552.79 million and the lowest is $541.10 million. AvalonBay Communities posted sales of $576.41 million in the same quarter last year, which would indicate a negative year over year growth rate of 5%. The firm is scheduled to report its next earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that AvalonBay Communities will report full year sales of $2.22 billion for the current financial year, with estimates ranging from $2.19 billion to $2.23 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.33 billion, with estimates ranging from $2.26 billion to $2.42 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, April 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.92). AvalonBay Communities had a net margin of 27.97% and a return on equity of 6.02%. The firm had revenue of $497.44 million during the quarter, compared to the consensus estimate of $544.98 million. During the same period in the previous year, the company posted $2.39 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year.

A number of equities research analysts recently weighed in on AVB shares. Smith Barney Citigroup upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Monday, April 19th. Royal Bank of Canada assumed coverage on shares of AvalonBay Communities in a research note on Tuesday, March 30th. They set a “sector perform” rating and a $193.00 target price for the company. Zelman & Associates raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Tuesday, March 23rd. TheStreet cut shares of AvalonBay Communities from a “b” rating to a “c+” rating in a report on Wednesday, April 28th. Finally, KeyCorp upgraded AvalonBay Communities from a “sector weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Monday, March 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. AvalonBay Communities has a consensus rating of “Hold” and an average price target of $184.63.

Several hedge funds and other institutional investors have recently modified their holdings of AVB. Alpha DNA Investment Management LLC acquired a new stake in AvalonBay Communities during the fourth quarter worth about $27,000. First Horizon Advisors Inc. acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $33,000. Arlington Partners LLC bought a new position in AvalonBay Communities in the first quarter valued at approximately $42,000. Carroll Financial Associates Inc. acquired a new position in AvalonBay Communities during the first quarter valued at approximately $42,000. Finally, Parallel Advisors LLC lifted its stake in AvalonBay Communities by 28.7% during the first quarter. Parallel Advisors LLC now owns 242 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

NYSE:AVB traded up $0.31 on Wednesday, hitting $198.27. The company’s stock had a trading volume of 454,847 shares, compared to its average volume of 822,994. AvalonBay Communities has a one year low of $131.38 and a one year high of $199.48. The firm has a market capitalization of $27.68 billion, a P/E ratio of 42.64, a price-to-earnings-growth ratio of 16.32 and a beta of 0.97. The stock has a fifty day moving average of $190.89 and a two-hundred day moving average of $174.26. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71.

AvalonBay Communities Company Profile

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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 markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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

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