Wedbush Forecasts Weaker Earnings for AvalonBay Communities

AvalonBay Communities, Inc. (NYSE:AVB) – Equities researchers at Wedbush decreased their Q4 2024 earnings estimates for shares of AvalonBay Communities in a research report issued to clients and investors on Wednesday, November 6th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $2.82 per share for the quarter, down from their previous forecast of $2.86. The consensus estimate for AvalonBay Communities’ current full-year earnings is $11.04 per share.

Other research analysts have also issued reports about the company. Truist Financial upped their target price on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler upped their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Evercore ISI increased their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $227.06.

AvalonBay Communities Trading Up 2.5 %

AvalonBay Communities stock opened at $233.75 on Friday. The business has a 50 day moving average price of $225.92 and a two-hundred day moving average price of $211.05. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.70. AvalonBay Communities has a 12 month low of $164.76 and a 12 month high of $236.26. The stock has a market cap of $33.24 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the previous year, the firm posted $2.66 EPS.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Hedge Funds Weigh In On AvalonBay Communities

A number of large investors have recently modified their holdings of the stock. Norden Group LLC acquired a new position in AvalonBay Communities during the 1st quarter worth $609,000. Empowered Funds LLC lifted its stake in shares of AvalonBay Communities by 24.2% during the first quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 357 shares during the period. Hilltop National Bank bought a new position in AvalonBay Communities in the first quarter valued at about $599,000. Avalon Trust Co increased its position in AvalonBay Communities by 1.4% in the first quarter. Avalon Trust Co now owns 71,705 shares of the real estate investment trust’s stock worth $13,306,000 after purchasing an additional 975 shares during the period. Finally, Tectonic Advisors LLC raised its holdings in AvalonBay Communities by 15.0% during the 1st quarter. Tectonic Advisors LLC now owns 1,733 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 226 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.