AvalonBay Communities, Inc. (AVB) Given Buy Rating at Mizuho
Mizuho reaffirmed their buy rating on shares of AvalonBay Communities, Inc. (NYSE:AVB) in a report published on Monday. The firm currently has a $220.00 price objective on the real estate investment trust’s stock.
A number of other equities research analysts have also commented on AVB. Stifel Nicolaus decreased their price target on AvalonBay Communities from $209.00 to $200.00 and set a buy rating on the stock in a research report on Wednesday, November 1st. BidaskClub lowered AvalonBay Communities from a hold rating to a sell rating in a research report on Wednesday, August 9th. Robert W. Baird reaffirmed a buy rating and set a $202.00 price objective on shares of AvalonBay Communities in a report on Friday, September 1st. Zacks Investment Research raised AvalonBay Communities from a sell rating to a hold rating in a report on Monday, October 30th. Finally, Deutsche Bank AG upped their price objective on AvalonBay Communities from $193.00 to $195.00 and gave the stock a hold rating in a report on Friday, August 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $197.20.
AvalonBay Communities (NYSE AVB) traded up $1.42 during midday trading on Monday, reaching $183.39. The company had a trading volume of 489,483 shares, compared to its average volume of 655,936. The company has a market cap of $25,350.00, a price-to-earnings ratio of 21.43, a PEG ratio of 2.89 and a beta of 0.36. AvalonBay Communities has a 1-year low of $158.32 and a 1-year high of $199.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.17 and a current ratio of 0.17.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). The business had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $2.11 earnings per share. research analysts anticipate that AvalonBay Communities will post 8.61 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, September 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 89.03%.
Hedge funds have recently bought and sold shares of the company. Ffcm LLC lifted its stake in shares of AvalonBay Communities by 6.6% in the 2nd quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock valued at $2,064,000 after purchasing an additional 667 shares during the period. AXA lifted its stake in shares of AvalonBay Communities by 7.7% in the 2nd quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock valued at $21,485,000 after purchasing an additional 7,981 shares during the period. IBM Retirement Fund lifted its stake in shares of AvalonBay Communities by 120.1% in the 2nd quarter. IBM Retirement Fund now owns 3,374 shares of the real estate investment trust’s stock valued at $724,000 after purchasing an additional 1,841 shares during the period. PGGM Investments lifted its stake in shares of AvalonBay Communities by 5.6% in the 3rd quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock valued at $293,003,000 after purchasing an additional 86,594 shares during the period. Finally, Swiss National Bank lifted its stake in shares of AvalonBay Communities by 2.0% in the 2nd quarter. Swiss National Bank now owns 849,580 shares of the real estate investment trust’s stock valued at $163,264,000 after purchasing an additional 16,400 shares during the period. 97.71% of the stock is currently owned by institutional investors.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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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