Q1 2017 EPS Estimates for AvalonBay Communities, Inc. (AVB) Lowered by SunTrust Banks

AvalonBay Communities, Inc. (NYSE:AVB) – Analysts at SunTrust Banks cut their Q1 2017 earnings estimates for shares of AvalonBay Communities in a research report issued on Monday. SunTrust Banks analyst M. Lewis now anticipates that the brokerage will post earnings per share of $2.14 for the quarter, down from their prior estimate of $2.15. SunTrust Banks also issued estimates for AvalonBay Communities’ Q2 2017 earnings at $2.12 EPS, Q3 2017 earnings at $2.18 EPS, Q4 2017 earnings at $2.26 EPS, FY2017 earnings at $8.70 EPS, Q1 2018 earnings at $2.27 EPS, Q2 2018 earnings at $2.29 EPS, Q3 2018 earnings at $2.30 EPS, Q4 2018 earnings at $2.36 EPS, FY2018 earnings at $9.23 EPS, FY2019 earnings at $9.62 EPS and FY2021 earnings at $10.87 EPS.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.94. AvalonBay Communities had a return on equity of 10.36% and a net margin of 50.56%. The business earned $518.24 million during the quarter, compared to analysts’ expectations of $517.45 million. During the same quarter last year, the company posted $1.99 earnings per share. AvalonBay Communities’s quarterly revenue was up 7.8% on a year-over-year basis.

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Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

Several other brokerages have also weighed in on AVB. Zelman & Associates lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Monday. RBC Capital Markets reiterated a “buy” rating and set a $191.00 price objective on shares of AvalonBay Communities in a report on Monday. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Friday, January 6th. Barclays PLC lowered their target price on shares of AvalonBay Communities from $178.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday, January 23rd. Finally, Mizuho restated a “buy” rating and issued a $190.00 target price on shares of AvalonBay Communities in a report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $189.86.

AvalonBay Communities (NYSE:AVB) opened at 178.46 on Wednesday. The company has a market cap of $24.51 billion, a PE ratio of 23.73 and a beta of 0.33. The company’s 50-day moving average price is $175.99 and its 200-day moving average price is $173.31. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $192.29.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its position in AvalonBay Communities by 444.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 583 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 476 shares in the last quarter. Wolverine Asset Management LLC bought a new position in AvalonBay Communities during the second quarter worth $125,000. IFP Advisors Inc increased its position in AvalonBay Communities by 0.3% in the second quarter. IFP Advisors Inc now owns 1,006 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 3 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in AvalonBay Communities by 16.5% in the second quarter. First Citizens Bank & Trust Co. now owns 1,358 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 192 shares in the last quarter. Finally, Wetherby Asset Management Inc. bought a new position in AvalonBay Communities during the fourth quarter worth $257,000. 97.05% of the stock is owned by hedge funds and other institutional investors.

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The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a dividend of $1.42 per share. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.35. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, March 29th. AvalonBay Communities’s dividend payout ratio is currently 71.81%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust. The Company focuses 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.

5 Day Chart for NYSE:AVB

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/q1-2017-eps-estimates-for-avalonbay-communities-inc-avb-lowered-by-suntrust-banks/1661949.html

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