AvalonBay Communities, Inc. (NYSE:AVB) released its quarterly earnings results on Monday. The real estate investment trust reported $1.72 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.45), Yahoo Finance reports. The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a return on equity of 8.68% and a net margin of 41.55%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $2.11 EPS. AvalonBay Communities updated its Q4 guidance to $2.19-2.25 EPS.
Shares of AvalonBay Communities (NYSE AVB) opened at 181.33 on Wednesday. The stock has a 50 day moving average price of $180.43 and a 200 day moving average price of $188.05. AvalonBay Communities has a 12 month low of $158.32 and a 12 month high of $199.52. The stock has a market capitalization of $24.97 billion, a P/E ratio of 24.97 and a beta of 0.36.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $1.42 per share. The ex-dividend date was Thursday, September 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.13%. AvalonBay Communities’s payout ratio is 88.75%.
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Several research analysts have commented on the company. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price target on the stock in a research report on Monday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 price target on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Barclays PLC lifted their price target on AvalonBay Communities from $188.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. BidaskClub raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a research report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $195.40.
About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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