Wedbush Raises Earnings Estimates for AvalonBay Communities

AvalonBay Communities, Inc. (NYSE:AVB) – Wedbush raised their FY2025 earnings per share estimates for shares of AvalonBay Communities in a note issued to investors on Wednesday, November 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $11.75 per share for the year, up from their previous estimate of $11.68. The consensus estimate for AvalonBay Communities’ current full-year earnings is $11.01 per share.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data 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 net margin of 36.20% and a return on equity of 8.87%. During the same quarter last year, the firm earned $2.66 EPS.

Several other research analysts have also issued reports on the company. UBS Group boosted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Piper Sandler raised their price target on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company increased their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $227.06.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $228.04 on Thursday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a 12 month low of $164.76 and a 12 month high of $236.26. The company has a market capitalization of $32.43 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 3.33 and a beta of 0.97. The firm’s 50-day moving average is $225.66 and its 200 day moving average is $210.60.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s payout ratio is 93.02%.

Institutional Trading of AvalonBay Communities

A number of hedge funds have recently bought and sold shares of the stock. Daiwa Securities Group Inc. increased its holdings in shares of AvalonBay Communities by 487.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after acquiring an additional 298,322 shares during the period. International Assets Investment Management LLC purchased a new position in AvalonBay Communities in the third quarter valued at about $581,960,000. Canada Pension Plan Investment Board grew its stake in AvalonBay Communities by 14.4% in the first 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. SG Americas Securities LLC raised its holdings in AvalonBay Communities by 4,563.7% in the first quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock worth $39,488,000 after purchasing an additional 208,240 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of AvalonBay Communities during the third quarter valued at about $29,256,000. Hedge funds and other institutional investors own 92.61% 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.