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

AvalonBay Communities (NYSE:AVB) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Piper Sandler increased their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. UBS Group upped their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $225.88.

AvalonBay Communities Stock Performance

NYSE AVB traded up $2.22 during trading hours on Monday, hitting $218.50. 624,570 shares of the stock were exchanged, compared to its average volume of 729,505. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a market cap of $31.08 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 3.37 and a beta of 0.97. AvalonBay Communities has a 12-month low of $164.76 and a 12-month high of $236.26. The stock has a 50-day moving average of $225.55 and a 200 day moving average of $209.94.

AvalonBay Communities Dividend Announcement

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

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.42% 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.