AvalonBay Communities (NYSE:AVB) Issues FY 2024 Earnings Guidance

AvalonBay Communities (NYSE:AVB) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 10.990-11.090 for the period, compared to the consensus EPS estimate of 11.030. The company issued revenue guidance of -. AvalonBay Communities also updated its FY24 guidance to $10.99-$11.09 EPS.

AvalonBay Communities Stock Performance

AVB stock traded up $2.22 on Monday, reaching $218.50. The company’s stock had a trading volume of 624,570 shares, compared to its average volume of 729,505. The firm has a fifty day moving average of $225.55 and a two-hundred day moving average of $209.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $31.08 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 3.37 and a beta of 0.97. AvalonBay Communities has a 52 week low of $164.76 and a 52 week high of $236.26.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 115.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVB shares. Truist Financial increased 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. BNP Paribas began coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price on the stock. UBS Group upped their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company upped their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $225.88.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction that occurred on 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 owns 4,383 shares in the company, valued at $908,026.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

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.