Advertisement
Canada markets open in 5 hours 47 minutes

  • S&P/TSX

    22,290.62
    +31.15 (+0.14%)
     

  • S&P 500

    5,187.70
    +6.96 (+0.13%)
     

  • DOW

    38,884.26
    +31.99 (+0.08%)
     

  • CAD/USD

    0.7272
    -0.0015 (-0.20%)
     

  • CRUDE OIL

    77.56
    -0.82 (-1.05%)
     

  • Bitcoin CAD

    85,631.66
    -1,829.60 (-2.09%)
     

  • CMC Crypto 200

    1,289.03
    -5.65 (-0.44%)
     

  • GOLD FUTURES

    2,319.40
    -4.80 (-0.21%)
     

  • RUSSELL 2000

    2,064.65
    +3.97 (+0.19%)
     

  • 10-Yr Bond

    4.4630
    -0.0260 (-0.58%)
     

  • NASDAQ futures

    18,208.50
    +9.00 (+0.05%)
     

  • VOLATILITY

    13.22
    -0.01 (-0.08%)
     

  • FTSE

    8,350.56
    +36.89 (+0.44%)
     

  • NIKKEI 225

    38,202.37
    -632.73 (-1.63%)
     

  • CAD/EUR

    0.6767
    -0.0004 (-0.06%)
     

AvalonBay (AVB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2 min read

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.

ADVERTISEMENT

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.

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

AvalonBay Communities, Inc. (AVB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research