AvalonBay Communities, Inc. (NYSE:AVB) is reporting third quarter financial results on Wednesday 28th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, AVB is expected to report 3Q20 income of $ 0.95 per share from revenue of $ 568.59 million.
For the full year, analysts anticipate top line of $ 2323.37 million, while looking forward to income of $ 4.25 per share bottom line.
The Company Outlook
Full Year 2020 bottomline are predicted in a range of $ 9.62 ~ $ 10.02 per share
Click Here For More Historical Outlooks Of AvalonBay Communities, Inc.
Previous Quarter Performance
AvalonBay Communities, Inc. came out with income for the second quarter of $ 2.23 per share, from the revenue of $ 523.53 million. The quarterly earnings swell 84.30 percent while revenues dropped 9.03 percent compared with the same quarter last year.
The consensus estimates are income of $ 1.03 per share from $ 591.69 million in revenue. The bottom line results beat street analysts by $ 1.2 or 116.50 percent, at the same time, top line results fell short of analysts by $ 68.16 million or 11.52 percent.
Stock Performance
Shares of AvalonBay Communities, Inc. traded low $ -3.50 or -2.44 percent on Tuesday, reaching $ 139.88 with volume of 961.20 thousand shares. AvalonBay Communities, Inc. has traded high as $ 143.97 and has cracked $ 139.88 on the downward trend
According to the previous trading day, closing price of $ 139.88, representing a 21.33 % increase from the 52 week low of $ 118.17 and a 37.5 % decrease over the 52 week high of $ 229.40.
The company has a market capital of $ 19.69 billion and is part of the Real Estate sector and REIT – Residential industry.
Recent Analyst recommendations
- On 16th October 2020, initiated by UBS Group at Neutral rating, with $ 165.00 target price.
- On 13th October 2020, downgraded by Jefferies Financial Group to Hold from Buy rating, with $ 152.00 target price.
As of June 30, 2019, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 86,184 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and seven communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
