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AvalonBay (AVB) Reports Q3 Earnings: What Key Metrics Have to Say
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AvalonBay Communities (AVB - Free Report) reported $734.31 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 5.3%. EPS of $2.74 for the same period compares to $1.21 a year ago.
The reported revenue represents a surprise of +0.36% over the Zacks Consensus Estimate of $731.67 million. With the consensus EPS estimate being $2.71, the EPS surprise was +1.11%.
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: 95.6% versus 95.9% estimated by four analysts on average.
Revenue- Rental and other income: $732.59 million versus $731.25 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
Revenue- Management, development and other fees: $1.72 million versus the six-analyst average estimate of $1.85 million. The reported number represents a year-over-year change of -11.3%.
Net Earnings Per Share (Diluted): $2.61 versus the eight-analyst average estimate of $1.72.
Shares of AvalonBay have returned -2.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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AvalonBay (AVB) Reports Q3 Earnings: What Key Metrics Have to Say
AvalonBay Communities (AVB - Free Report) reported $734.31 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 5.3%. EPS of $2.74 for the same period compares to $1.21 a year ago.
The reported revenue represents a surprise of +0.36% over the Zacks Consensus Estimate of $731.67 million. With the consensus EPS estimate being $2.71, the EPS surprise was +1.11%.
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: 95.6% versus 95.9% estimated by four analysts on average.
- Revenue- Rental and other income: $732.59 million versus $731.25 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
- Revenue- Management, development and other fees: $1.72 million versus the six-analyst average estimate of $1.85 million. The reported number represents a year-over-year change of -11.3%.
- Net Earnings Per Share (Diluted): $2.61 versus the eight-analyst average estimate of $1.72.
View all Key Company Metrics for AvalonBay here>>>Shares of AvalonBay have returned -2.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.