[Business Wire] Avalonbay Communities Inc. (NYSE:AVB)(TREND ANALYSIS) will release its third quarter 2015 earnings on October 26, 2015 after the market close. The Company will hold a conference call on October 27, 2015 at 11:00 AM Eastern Time (ET) to discuss its third quarter 2015 results.
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Avalonbay Communities Inc. (NYSE:AVB) stock is currently trading 2.18% below its 52-week-high, 20.9% above its 52-week-low. The 1-year stock price history is in the range of $147 – $181.69. Avalonbay Communities Inc. (AVB) has a price to earnings ratio of 30.89 versus Financial sector average of 16.17. AVB stock price has outperformed the S&P 500 by 14.1%. The Residential REIT company is currently valued at $23.62 billion and its share price closed the last trading session at $177.73. The stock has a 50-day moving average of $170.13 and a 200-day moving average of $168.75.
Avalonbay Communities Inc. (AVB) current short interest stands at 1.91 million shares. It has decreased by 3% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.7 million shares, the number of days required to cover the short positions stand at 2.8 days.
The company is expected to announce next quarter earnings on October 26, at consensus estimate of $2.03. Avalonbay Communities Inc. (AVB) reported last quarter earnings on July 27. The Residential REIT company announced earnings per share of $2.18 against a consensus Street estimate of $1.92, beating the average estimate by $0.26. This corresponds to an increase of $0.21 compared to the same quarter of the previous fiscal year.
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There are currently twenty-five analysts that cover Avalonbay Communities Inc. stock. Of those twenty-five, fourteen have a Buy rating, eleven have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $187.93.
A recent analyst activity consisted of Mizuho Securities reiterating their Neutral stance on September 21. Mizuho Securities decreased price target from $187 to $180. This corresponds to a 1.28% upside from the last closing price. On the date of report, the stock closed at $171.06.
Evercore Partners reiterated their Buy stance on September 8, and decreased their price target from $193 to $187. This corresponds to a 5.22% upside from the last closing price. On the date of report, the stock closed at $161.58.
Another research firm was Credit Suisse who upgraded their Neutral rating to Outperform on August 20. Credit Suisse increased their price target on Avalonbay Communities Inc. from $193 to $200. This translates to a 12.53% upside from the last closing price. On the date of report, the stock closed at $176.1.
AvalonBay Communities, Inc. engages in the development, redevelopment, acquisition, ownership, and operation of multifamily communities in the United States. As of January 31, 2009, the company owned or held a direct or indirect ownership interest in 164 operating apartment communities comprising 45,728 apartment homes in 10 states and the District of Columbia. It also held a direct or indirect ownership interest in 14 communities under construction, as well as held rights to develop an additional 27 communities. The company’s markets are located in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Midwest, the Pacific Northwest, and the Northern and Southern California regions of the United States. AvalonBay Communities has elected to be taxed as a real estate investment trust and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1978 and is based in Arlington, Virginia.