What is Zacks Research’s Forecast for AVB FY2024 Earnings?

AvalonBay Communities, Inc. (NYSE:AVB) – Analysts at Zacks Research increased their FY2024 EPS estimates for shares of AvalonBay Communities in a research report issued on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $11.02 for the year, up from their previous forecast of $10.98. The consensus estimate for AvalonBay Communities’ current full-year earnings is $11.03 per share. Zacks Research also issued estimates for AvalonBay Communities’ Q4 2024 earnings at $2.81 EPS, Q1 2025 earnings at $2.83 EPS, Q2 2025 earnings at $2.88 EPS, Q3 2025 earnings at $2.88 EPS, Q4 2025 earnings at $2.92 EPS, FY2025 earnings at $11.51 EPS, Q1 2026 earnings at $2.97 EPS, Q2 2026 earnings at $3.02 EPS, Q3 2026 earnings at $3.06 EPS and FY2026 earnings at $12.15 EPS.

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

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Truist Financial lifted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Scotiabank cut their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Finally, Piper Sandler lifted their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $226.88.

AvalonBay Communities Trading Up 1.0 %

NYSE AVB opened at $237.74 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $33.82 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 3.40 and a beta of 0.97. The company’s 50-day simple moving average is $226.60 and its two-hundred day simple moving average is $214.71. AvalonBay Communities has a one year low of $169.37 and a one year high of $239.29.

Institutional Investors Weigh In On AvalonBay Communities

A number of large investors have recently modified their holdings of AVB. RPg Family Wealth Advisory LLC purchased a new stake in shares of AvalonBay Communities in the third quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities during the second quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in shares of AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares during the period. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities during the third quarter worth approximately $39,000. Finally, Mather Group LLC. increased its stake in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 2,261 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares in the company, valued at $26,051,508.08. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

AvalonBay Communities Company Profile

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.