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

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

Analyst Ratings Changes

A number of research firms recently weighed in on AVB. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Royal Bank of Canada boosted their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Scotiabank lifted their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Finally, Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research 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, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $225.88.

AvalonBay Communities Trading Up 1.0 %

AVB traded up $2.22 on Monday, hitting $218.50. The company had a trading volume of 608,012 shares, compared to its average volume of 729,505. The company has a market cap of $31.08 billion, a PE ratio of 36.97, a PEG ratio of 3.37 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $225.52 and its 200 day simple moving average is $210.20. AvalonBay Communities has a 12-month low of $164.76 and a 12-month high of $236.26.

AvalonBay Communities Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

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.