AvalonBay Communities (NYSE:AVB) Announces Earnings Results

AvalonBay Communities (NYSE:AVB) released its quarterly earnings data on Monday. 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), Zacks reports. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same quarter in the prior year, the firm earned $2.66 earnings per share.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $224.93 on Thursday. The company has a market cap of $31.99 billion, a P/E ratio of 30.77, a PEG ratio of 3.29 and a beta of 0.97. The business has a 50 day moving average of $225.66 and a two-hundred day moving average of $210.60. AvalonBay Communities has a 52 week low of $164.76 and a 52 week high of $236.26. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.02%. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of research reports. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target for the company. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Royal Bank of Canada cut their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday. Piper Sandler raised their target price 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, UBS Group lifted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $227.06.

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.