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 EPS guidance of 2.780-2.880 for the period, compared to the consensus EPS 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

Several analysts have recently commented on the company. Evercore ISI raised their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Piper Sandler increased their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Stock Performance

Shares of AVB traded up $4.96 during trading hours on Tuesday, reaching $223.46. 212,844 shares of the company traded hands, compared to its average volume of 727,090. The stock has a market cap of $31.78 billion, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. AvalonBay Communities has a 1-year low of $164.76 and a 1-year high of $236.26. The stock’s fifty day moving average is $225.52 and its 200 day moving average is $210.20.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 115.06%.

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.