AvalonBay Communities (AVB) Set to Announce Earnings on Thursday

AvalonBay Communities (NYSE:AVB - Get Free Report) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $2.64 per share for the quarter. Parties that are interested in participating in the company's conference call can do so using this link.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $2.73 by ($1.03). The business had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. During the same period in the previous year, the business earned $2.59 EPS. On average, analysts expect AvalonBay Communities to post $11 EPS for the current fiscal year and $11 EPS for the next fiscal year.

AvalonBay Communities Stock Up 0.6 %

Shares of AvalonBay Communities stock traded up $1.10 during trading on Thursday, reaching $182.05. The company's stock had a trading volume of 671,424 shares, compared to its average volume of 817,199. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. The company has a market cap of $25.88 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 3.33 and a beta of 0.92. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $198.65. The company has a 50-day simple moving average of $180.96 and a two-hundred day simple moving average of $177.85.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $1.70 dividend. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.74%. AvalonBay Communities's dividend payout ratio (DPR) is presently 103.82%.

Analysts Set New Price Targets

AVB has been the subject of a number of recent analyst reports. Mizuho lowered their price objective on AvalonBay Communities from $188.00 to $185.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. KeyCorp reaffirmed a "sector weight" rating on shares of AvalonBay Communities in a research report on Friday, January 5th. Barclays raised AvalonBay Communities from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $194.00 to $204.00 in a research report on Tuesday, February 20th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Finally, Wolfe Research cut AvalonBay Communities from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, January 2nd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, AvalonBay Communities currently has an average rating of "Hold" and an average target price of $196.78.

Insider Activity at AvalonBay Communities

In related news, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares in the company, valued at approximately $4,054,985.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at approximately $4,054,985.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kevin P. O'shea sold 5,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company's stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its holdings in AvalonBay Communities by 255.6% in the second quarter. Quarry LP now owns 192 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 138 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in AvalonBay Communities in the first quarter valued at approximately $69,000. First Horizon Advisors Inc. lifted its holdings in AvalonBay Communities by 25.1% in the first quarter. First Horizon Advisors Inc. now owns 489 shares of the real estate investment trust's stock valued at $82,000 after acquiring an additional 98 shares during the last quarter. Advisory Services Network LLC acquired a new position in AvalonBay Communities in the fourth quarter valued at approximately $99,000. Finally, Resurgent Financial Advisors LLC acquired a new position in AvalonBay Communities in the fourth quarter valued at approximately $122,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.