AvalonBay Communities (NYSE:AVB) Releases Q4 2024 Earnings Guidance

AvalonBay Communities (NYSE:AVB) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.780-2.880 for the period, compared to the consensus estimate of 2.840. The company issued revenue guidance of -. AvalonBay Communities also updated its FY 2024 guidance to 10.990-11.090 EPS.

AvalonBay Communities Stock Up 1.3 %

Shares of AVB stock traded up $2.98 during trading hours on Thursday, reaching $227.91. The company had a trading volume of 321,086 shares, compared to its average volume of 728,389. 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 business has a fifty day simple moving average of $225.66 and a 200-day simple moving average of $210.60. AvalonBay Communities has a 12 month low of $164.76 and a 12 month high of $236.26. The company has a market cap of $32.41 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same period in the prior year, the business earned $2.66 earnings per share. On average, research analysts expect that AvalonBay Communities will post 11.01 earnings per share for the current fiscal year.

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 given a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.98%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AVB shares. Evercore ISI boosted their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. UBS Group upped their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Truist Financial increased their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Finally, Piper Sandler upped their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $227.06.

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.