Advertisement
Australia markets close in 5 hours 33 minutes

  • ALL ORDS

    8,011.90
    +59.60 (+0.75%)
     

  • ASX 200

    7,737.50
    +55.10 (+0.72%)
     

  • AUD/USD

    0.6635
    +0.0010 (+0.15%)
     

  • OIL

    78.94
    +0.46 (+0.59%)
     

  • GOLD

    2,336.50
    +5.30 (+0.23%)
     

  • Bitcoin AUD

    95,533.05
    -1,266.75 (-1.31%)
     

  • CMC Crypto 200

    1,357.38
    +44.75 (+3.41%)
     

  • AUD/EUR

    0.6157
    +0.0011 (+0.18%)
     

  • AUD/NZD

    1.1026
    +0.0006 (+0.05%)
     

  • NZX 50

    11,826.87
    +6.09 (+0.05%)
     

  • NASDAQ

    18,093.57
    +202.77 (+1.13%)
     

  • FTSE

    8,213.49
    +41.34 (+0.51%)
     

  • Dow Jones

    38,852.27
    +176.59 (+0.46%)
     

  • DAX

    18,175.21
    +173.61 (+0.96%)
     

  • Hang Seng

    18,578.30
    +102.38 (+0.55%)
     

  • NIKKEI 225

    38,796.79
    +560.72 (+1.47%)
     

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