What is Zacks Research’s Estimate for AVB FY2024 Earnings?

AvalonBay Communities, Inc. (NYSE:AVB) – Zacks Research raised their FY2024 earnings estimates for AvalonBay Communities in a research note issued on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings per share of $11.02 for the year, up from their prior forecast of $10.98. The consensus estimate for AvalonBay Communities’ current full-year earnings is $11.03 per share. Zacks Research also issued estimates for AvalonBay Communities’ Q4 2024 earnings at $2.81 EPS, Q1 2025 earnings at $2.83 EPS, Q2 2025 earnings at $2.88 EPS, Q3 2025 earnings at $2.88 EPS, Q4 2025 earnings at $2.92 EPS, FY2025 earnings at $11.51 EPS, Q1 2026 earnings at $2.97 EPS, Q2 2026 earnings at $3.02 EPS, Q3 2026 earnings at $3.06 EPS and FY2026 earnings at $12.15 EPS.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter in the prior year, the business earned $2.66 EPS.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company boosted 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Truist Financial upped their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $226.88.

AvalonBay Communities Price Performance

AVB stock opened at $235.45 on Wednesday. The firm has a 50 day moving average of $226.45 and a 200-day moving average of $214.54. The company has a market cap of $33.49 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 3.39 and a beta of 0.97. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. AvalonBay Communities has a 12-month low of $169.37 and a 12-month high of $236.49.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.89%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Insider Transactions at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On AvalonBay Communities

A number of institutional investors have recently bought and sold shares of the stock. Segment Wealth Management LLC grew its holdings in AvalonBay Communities by 4.6% in the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 45 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in AvalonBay Communities by 2.7% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after purchasing an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in AvalonBay Communities by 4.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 50 shares during the period. Tectonic Advisors LLC grew its holdings in AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC grew its holdings in AvalonBay Communities by 4.6% in the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 55 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

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.