AvalonBay Communities, Inc. (AVB) Price Target Lowered to $200.00 at Royal Bank Of Canada
AvalonBay Communities, Inc. (NYSE:AVB) had its price objective cut by Royal Bank Of Canada from $206.00 to $200.00 in a report released on Monday morning. They currently have an outperform rating on the real estate investment trust’s stock.
A number of other analysts also recently weighed in on the stock. Mizuho reaffirmed a buy rating and issued a $220.00 target price on shares of AvalonBay Communities in a research report on Monday. Stifel Nicolaus reduced their target price on shares of AvalonBay Communities from $209.00 to $200.00 and set a buy rating on the stock in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of AvalonBay Communities from a sell rating to a hold rating in a research report on Monday, October 30th. Evercore ISI raised shares of AvalonBay Communities from an in-line rating to an outperform rating and set a $194.00 target price on the stock in a research report on Monday, September 25th. Finally, KeyCorp reissued a hold rating on shares of AvalonBay Communities in a research report on Sunday, September 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. AvalonBay Communities presently has a consensus rating of Hold and an average target price of $197.20.
Shares of AvalonBay Communities (NYSE AVB) traded up $0.37 during trading on Monday, reaching $183.76. 520,777 shares of the company’s stock were exchanged, compared to its average volume of 655,936. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.69. The stock has a market cap of $25,350.00, a P/E ratio of 21.43, a P/E/G ratio of 2.89 and a beta of 0.36. AvalonBay Communities has a fifty-two week low of $158.32 and a fifty-two week high of $199.52.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). The business had revenue of $550.50 million during the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 earnings per share. sell-side analysts expect that AvalonBay Communities will post 8.61 EPS for the current fiscal year.
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The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, September 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 89.03%.
Several large investors have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in shares of AvalonBay Communities by 5.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 429,499 shares of the real estate investment trust’s stock worth $76,657,000 after purchasing an additional 21,250 shares during the period. Commonwealth Equity Services Inc lifted its stake in shares of AvalonBay Communities by 21.4% in the 3rd quarter. Commonwealth Equity Services Inc now owns 3,373 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 595 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of AvalonBay Communities by 13.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 18,306 shares of the real estate investment trust’s stock worth $3,266,000 after purchasing an additional 2,212 shares during the period. Quantbot Technologies LP bought a new position in shares of AvalonBay Communities in the 3rd quarter worth approximately $2,339,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of AvalonBay Communities by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 574,135 shares of the real estate investment trust’s stock worth $102,437,000 after purchasing an additional 14,302 shares during the period. Hedge funds and other institutional investors own 97.71% of the company’s stock.
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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