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

AvalonBay Communities (NYSE:AVB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 10.920-11.120 for the period, compared to the consensus estimate of 10.970. The company issued revenue guidance of -. AvalonBay Communities also updated its FY24 guidance to $10.92-$11.12 EPS.

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on AvalonBay Communities from $194.00 to $212.00 and gave the stock a neutral rating in a research note on Monday, June 17th. Truist Financial upped their target price on AvalonBay Communities from $207.00 to $213.00 and gave the stock a hold rating in a research report on Monday, June 24th. Royal Bank of Canada upped their target price on AvalonBay Communities from $191.00 to $196.00 and gave the stock a sector perform rating in a research report on Monday, April 29th. Argus upped their target price on AvalonBay Communities from $188.00 to $212.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Finally, Mizuho increased their price target on AvalonBay Communities from $185.00 to $194.00 and gave the company a neutral rating in a research report on Thursday, May 30th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $207.76.

AvalonBay Communities Stock Performance

Shares of AVB stock traded down $1.40 on Wednesday, hitting $204.74. 878,374 shares of the stock were exchanged, compared to its average volume of 721,113. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $29.11 billion, a PE ratio of 30.47, a P/E/G ratio of 3.04 and a beta of 0.96. AvalonBay Communities has a one year low of $160.45 and a one year high of $211.20. The firm’s 50 day moving average is $201.69 and its two-hundred day moving average is $189.88.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $6.80 annualized dividend and a dividend yield of 3.32%. AvalonBay Communities’s payout ratio is 101.19%.

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.