News

For the quarter ended March 2024, AvalonBay Communities (AVB) reported revenue of $712.86 million, up 5.7% over the same period last year. EPS came in at $2.70, compared to $1.05 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $706.61 million, representing a surprise of +0.88%. The company delivered an EPS surprise of +2.27%, with the consensus EPS estimate being $2.64.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how AvalonBay performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Same Store Economic Occupancy: 95.9% compared to the 95.9% average estimate based on two analysts.
• Revenue- Management, development and other fees: $1.80 million compared to the $1.79 million average estimate based on six analysts. The reported number represents a change of +68.4% year over year.
• Revenue- Rental and other income: $711.06 million versus $705.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
• Net Earnings Per Share (Diluted): $1.22 versus $1.15 estimated by seven analysts on average.

View all Key Company Metrics for AvalonBay here>>>

Shares of AvalonBay have returned +4.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Free – 5 Dividend Stocks to Fund Your Retirement

Zacks Investment Research has released a Special Report to help you prepare for retirement with 5 diverse stocks that pay whopping dividends. They cut across property management, upscale outlets, financial institutions, and a couple of strong energy producers.

5 Dividend Stocks to Include in Your Retirement Strategy is packed with unconventional wisdom and insights you won’t get from your neighborhood financial planner.

Download Now – Today It’s FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.