AvalonBay Communities (NYSE:AVB) Issues Q4 2024 Earnings Guidance

AvalonBay Communities (NYSE:AVB) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.780-2.880 for the period, compared to the consensus earnings per share estimate of 2.840. The company issued revenue guidance of -. AvalonBay Communities also updated its FY 2024 guidance to 10.990-11.090 EPS.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group upped their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI raised their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank boosted their price target on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Piper Sandler raised their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $225.88.

AvalonBay Communities Trading Up 1.0 %

AVB traded up $2.22 during trading on Monday, hitting $218.50. 624,570 shares of the company’s stock were exchanged, compared to its average volume of 729,505. AvalonBay Communities has a 1 year low of $164.76 and a 1 year high of $236.26. The stock has a 50 day moving average price of $225.55 and a 200 day moving average price of $209.94. The firm has a market cap of $31.08 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 3.37 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.11%. AvalonBay Communities’s dividend payout ratio is currently 115.06%.

Insider Buying and Selling at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.