AvalonBay Communities Inc. (NYSE:AVB) was downgraded by analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday.

Other equities analysts also recently issued research reports about the company. Sandler O’Neill upgraded AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Deutsche Bank AG decreased their price objective on AvalonBay Communities from $194.00 to $193.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. BTIG Research started coverage on AvalonBay Communities in a report on Thursday, August 25th. They issued a “buy” rating and a $208.00 price objective for the company. Jefferies Group reiterated a “hold” rating on shares of AvalonBay Communities in a report on Tuesday, September 6th. Finally, Cantor Fitzgerald set a $188.00 price objective on AvalonBay Communities and gave the stock a “hold” rating in a report on Monday, October 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $196.13.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

Shares of AvalonBay Communities (NYSE:AVB) opened at 160.44 on Wednesday. The firm has a market capitalization of $22.03 billion, a P/E ratio of 23.28 and a beta of 0.39. AvalonBay Communities has a 52-week low of $158.32 and a 52-week high of $192.29. The company’s 50-day moving average is $167.51 and its 200 day moving average is $176.05.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, October 24th. The real estate investment trust reported $2.11 EPS for the quarter, hitting analysts’ consensus estimates of $2.11. AvalonBay Communities had a return on equity of 9.57% and a net margin of 50.39%. During the same period last year, the business earned $2.02 earnings per share. Analysts expect that AvalonBay Communities will post $8.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Friday, December 30th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.37%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 78.37%.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. First Financial Corp IN boosted its position in AvalonBay Communities by 21.8% in the second quarter. First Financial Corp IN now owns 559 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 100 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in AvalonBay Communities by 444.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 583 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 476 shares during the last quarter. Wolverine Asset Management LLC bought a new position in AvalonBay Communities during the second quarter worth $125,000. First New York Securities LLC NY bought a new position in AvalonBay Communities during the second quarter worth $144,000. Finally, IFP Advisors Inc boosted its position in AvalonBay Communities by 0.3% in the second quarter. IFP Advisors Inc now owns 1,006 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 3 shares during the last quarter. 96.50% of the stock is currently owned by institutional investors and hedge funds.

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About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust. The Company focuses on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

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