AvalonBay Communities Inc (NYSE:AVB) – Jefferies Financial Group increased their Q3 2019 earnings per share (EPS) estimates for AvalonBay Communities in a note issued to investors on Monday, July 15th. Jefferies Financial Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings per share of $2.32 for the quarter, up from their previous forecast of $2.31. Jefferies Financial Group also issued estimates for AvalonBay Communities’ Q4 2019 earnings at $2.33 EPS, FY2019 earnings at $9.28 EPS, Q2 2020 earnings at $2.40 EPS, Q3 2020 earnings at $2.44 EPS, Q4 2020 earnings at $2.49 EPS, FY2020 earnings at $9.71 EPS, Q2 2021 earnings at $2.56 EPS and FY2021 earnings at $10.34 EPS.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.02. AvalonBay Communities had a net margin of 45.94% and a return on equity of 9.52%. The business had revenue of $459.80 million for the quarter, compared to analyst estimates of $575.92 million. During the same period in the previous year, the company earned $2.18 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis.
NYSE AVB opened at $210.19 on Wednesday. The business has a fifty day moving average price of $207.25. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.67. AvalonBay Communities has a 12-month low of $167.01 and a 12-month high of $214.10. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 4.00 and a beta of 0.51.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Thursday, June 27th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 67.56%.
In other news, CFO Kevin P. O’shea sold 250 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $205.49, for a total transaction of $51,372.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William M. Mclaughlin sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $209.07, for a total transaction of $522,675.00. The disclosure for this sale can be found here. Insiders have sold 9,881 shares of company stock worth $2,042,649 over the last three months. Corporate insiders own 0.42% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in AvalonBay Communities by 2.0% in the first quarter. BlackRock Inc. now owns 16,019,099 shares of the real estate investment trust’s stock valued at $3,215,513,000 after purchasing an additional 318,151 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 11.8% in the first quarter. Principal Financial Group Inc. now owns 4,208,825 shares of the real estate investment trust’s stock valued at $844,837,000 after purchasing an additional 445,179 shares during the last quarter. FMR LLC boosted its holdings in AvalonBay Communities by 1.3% in the first quarter. FMR LLC now owns 3,762,824 shares of the real estate investment trust’s stock valued at $755,312,000 after purchasing an additional 47,236 shares during the last quarter. Northern Trust Corp boosted its holdings in AvalonBay Communities by 4.0% in the first quarter. Northern Trust Corp now owns 2,513,041 shares of the real estate investment trust’s stock valued at $504,443,000 after purchasing an additional 95,923 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in AvalonBay Communities by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 2,297,292 shares of the real estate investment trust’s stock valued at $399,297,000 after purchasing an additional 191,867 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.
About AvalonBay Communities
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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