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

• AvalonBay Communities Inc AVB.N reported quarterly adjusted earnings of $1.88​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $1.78. The mean expectation of eleven analysts for the quarter was for earnings of $1.26 per share. Wall Street expected results to range from 74 cents to $1.78 per share.

• Revenue rose 4.7% to $758.60 million from a year ago; analysts expected $759.19 million.

• AvalonBay Communities Inc's reported EPS for the quarter was $1.88​.

• The company reported quarterly net income of $268.67 million.

• AvalonBay Communities Inc shares had fallen by 0.2% this quarter and lost 7.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.5% 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 $229.50, about 14.5% above its last closing price of $196.31

This summary was machine generated from LSEG data July 30 at 10:46 p.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)