AvalonBay Communities Inc reports results for the quarter ended in September 30 - Earnings Summary

AvalonBay Communities,.

05/11/2024 07:44

* AvalonBay Communities Inc  AVB.N  reported quarterly
adjusted
earnings of $2.61​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of $1.21.  The mean expectation of twelve analysts
for the quarter was for earnings of $1.45 per share. Wall Street
expected results to range from 98 cents to $2.76 per share.
    * Revenue rose 5% to $732.59 million from a year ago;
analysts
expected $731.53 million. 
    * AvalonBay Communities Inc's reported EPS for the quarter
was
$2.61​.
    * The company reported quarterly net income of $372.52
million.
    * AvalonBay Communities Inc shares had fallen by 3.0% this
quarter and gained 16.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 13
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the residential
reits
peer group is also "buy"

Wall Street's median 12-month price target for AvalonBay
Communities Inc is 234.50 
This summary was machine generated from LSEG data November 5 at
07:44 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      2.73           2.88           Beat
 Jun. 30 2024      2.71           2.77           Beat
 Mar. 31 2024      2.65           2.70           Beat
 Dec. 31 2023      2.74           2.63           Missed