KeyCorp Comments on AvalonBay Communities, Inc.’s Q1 2018 Earnings (AVB)
AvalonBay Communities, Inc. (NYSE:AVB) – Analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for shares of AvalonBay Communities in a note issued to investors on Wednesday. KeyCorp analyst A. Wurschmidt anticipates that the real estate investment trust will earn $2.27 per share for the quarter. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for AvalonBay Communities’ FY2018 earnings at $9.15 EPS.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The company had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. During the same quarter in the previous year, the business earned $2.11 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Evercore ISI raised shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 target price for the company in a report on Monday, September 25th. BMO Capital Markets reissued a “hold” rating and issued a $190.00 target price on shares of AvalonBay Communities in a report on Monday, November 27th. Stifel Nicolaus reissued a “buy” rating and issued a $209.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Finally, J P Morgan Chase & Co lowered shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $201.40.
AvalonBay Communities (NYSE AVB) opened at $178.12 on Friday. AvalonBay Communities has a fifty-two week low of $169.50 and a fifty-two week high of $199.52. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $24,600.00, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.76 and a beta of 0.35.
Institutional investors and hedge funds have recently modified their holdings of the company. Blair William & Co. IL raised its holdings in AvalonBay Communities by 0.7% in the second quarter. Blair William & Co. IL now owns 7,221 shares of the real estate investment trust’s stock worth $1,388,000 after purchasing an additional 50 shares in the last quarter. Federated Investors Inc. PA raised its holdings in AvalonBay Communities by 212.0% in the second quarter. Federated Investors Inc. PA now owns 5,782 shares of the real estate investment trust’s stock worth $1,111,000 after purchasing an additional 3,929 shares in the last quarter. Aviva PLC raised its holdings in AvalonBay Communities by 2.2% in the second quarter. Aviva PLC now owns 86,661 shares of the real estate investment trust’s stock worth $16,657,000 after purchasing an additional 1,850 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new position in AvalonBay Communities in the second quarter worth about $519,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in AvalonBay Communities by 17.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,569 shares of the real estate investment trust’s stock worth $6,451,000 after purchasing an additional 4,881 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock valued at $5,628,669 over the last ninety days. 0.46% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.19%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s payout ratio is 89.03%.
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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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