Wedbush Has Optimistic Outlook of AVB FY2025 Earnings

AvalonBay Communities, Inc. (NYSE:AVB) – Investment analysts at Wedbush boosted their FY2025 EPS estimates for AvalonBay Communities in a report issued on Wednesday, November 6th. Wedbush analyst R. Anderson now expects that the real estate investment trust will earn $11.75 per share for the year, up from their prior forecast of $11.68. The consensus estimate for AvalonBay Communities’ current full-year earnings is $11.01 per share.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a return on equity of 8.87% and a net margin of 36.20%. During the same period last year, the company posted $2.66 EPS.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lowered their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Truist Financial raised their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $227.06.

AvalonBay Communities Stock Up 2.6 %

NYSE AVB opened at $233.88 on Thursday. The business has a fifty day moving average price of $225.92 and a two-hundred day moving average price of $211.05. The stock has a market capitalization of $33.26 billion, a PE ratio of 31.99, a PEG ratio of 3.33 and a beta of 0.97. AvalonBay Communities has a fifty-two week low of $164.76 and a fifty-two week high of $236.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

Hedge Funds Weigh In On AvalonBay Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. Dimensional Fund Advisors LP increased its position in AvalonBay Communities by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after purchasing an additional 13,631 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after purchasing an additional 249,400 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of AvalonBay Communities by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock worth $342,824,000 after buying an additional 8,809 shares during the period. Bank of New York Mellon Corp raised its stake in AvalonBay Communities by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after buying an additional 126,055 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in AvalonBay Communities by 11.9% in the first quarter. Russell Investments Group Ltd. now owns 784,723 shares of the real estate investment trust’s stock valued at $145,576,000 after buying an additional 83,400 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 2.91%. 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.