AvalonBay Communities Inc (AVB) Releases Earnings Results, Misses Expectations By $-0.02 EPS

AvalonBay Communities Inc (AVB) reported quarterly earnings results on Monday, Jul-25-2016. The company reported $2.03 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $2.05. The company posted revenue of $502.30 million in the period, compared to analysts expectations of $497.58 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 EPS.

Many Wall Street Analysts have commented on AvalonBay Communities Inc. AvalonBay Communities Inc was Downgraded by Jefferies to ” Hold” on Jun 8, 2016. Company shares were Reiterated by RBC Capital Mkts on May 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 198 from a previous price target of $196 .

AvalonBay Communities Inc closed down -0.47 points or -0.26% at $183.77 with 3,95,423 shares getting traded on Wednesday. Post opening the session at $184.3, the shares hit an intraday low of $182.67 and an intraday high of $184.6 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 12, 2016, William M Mclaughlin (Executive Vice President) sold 10,000 shares at $190.93 per share price. According to the SEC, on May 11, 2016, Edward M Schulman (EVP-General Counsel) sold 5,323 shares at $190.60 per share price. On May 11, 2016, Timothy J Naughton (Chairman & CEO) sold 59,340 shares at $190.99 per share price, according to the Form-4 filing with the securities and exchange commission.

AvalonBay Communities Inc. is a real estate investment trust (REIT). The Company develops redevelops acquires owns and operates multifamily communities primarily in New England the New York/New Jersey metro area the Mid-Atlantic the Pacific Northwest and Northern and Southern California. It focuses on metropolitan areas in these regions. The Company operates in three segments: Established Communities Other Stabilized Communities and Development/Redevelopment Communities. It owns an ownership interest in around 252 operating apartment communities containing 74240 apartment homes in 11 states and the District of Columbia of which around 228 communities contain around 66631 apartment homes; two communities containing over 618 apartment homes were held by joint ventures in which it holds an ownership interest and approximately 22 communities contain around 6991 apartment homes. It operates apartment communities under three core brands: Avalon AVA and Eaves by Avalon.

AvalonBay Communities Inc

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