AvalonBay Communities, Inc. (AVB) Releases FY12 Earnings Guidance
AvalonBay Communities, Inc. (AVB) updated its FY12 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.45-5.50 for the period. AvalonBay Communities also updated its Q4 guidance to $1.40-1.45 EPS.
A number of research firms have also recently commented on AVB. Analysts at Barclays Capital reiterated an equalweight rating on shares of AvalonBay Communities in a research note to investors on Monday. They now have a $165.00 price target on the stock. On a related note, analysts at RBC Capital reiterated an outperform rating on shares of AvalonBay Communities in a research note to investors on Friday, October 19th. They now have a $158.00 price target on the stock. Finally, analysts at Jefferies Group upgraded shares of AvalonBay Communities from a hold rating to a buy rating in a research note to investors on Friday, October 19th.
Shares of AvalonBay Communities, Inc. (AVB) traded up 0.02% during mid-day trading on Wednesday, hitting $134.08. AvalonBay Communities, Inc. (AVB) has a 52 week low of $116.25 and a 52 week high of $151.23. The company has a market cap of $12.994 billion and a P/E ratio of 21.73.
AvalonBay Communities last announced its earnings results on Wednesday, October 24th. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.40 by $0.04. AvalonBay Communities’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that AvalonBay Communities, Inc. (AVB) will post $5.46 earnings per share for the current fiscal year.
AvalonBay Communities, Inc. (AvalonBay) is a real estate investment trust (REIT). The Company is engaged in the development, redevelopment, acquisition, ownership and operation of multifamily communities in high barrier to entry markets of the United States.
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