AvalonBay (AVB) Reports Q3 Earnings: What Key Metrics Have to Say
AvalonBay Communities (AVB) reported $697.64 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 4.9%. EPS of $2.66 for the same period compares to $3.53 a year ago.
The reported revenue represents a surprise of +0.81% over the Zacks Consensus Estimate of $692.06 million. With the consensus EPS estimate being $2.64, the EPS surprise was +0.76%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 95.7% versus 95.6% estimated by two analysts on average.
Revenue- Rental and other income: $695.70 million compared to the $691.19 million average estimate based on eight analysts. The reported number represents a change of +4.8% year over year.
Revenue- Management, development and other fees: $1.93 million compared to the $2.09 million average estimate based on seven analysts. The reported number represents a change of +38.2% year over year.
Net Earnings Per Share (Diluted): $1.21 versus $1.28 estimated by eight analysts on average.
View all Key Company Metrics for AvalonBay here>>>
Shares of AvalonBay have returned -3.2% over the past month versus the Zacks S&P 500 composite's -1.6% 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 Communities, Inc. (AVB) : Free Stock Analysis Report
