AvalonBay Communities (NYSE:AVB) had its price objective boosted by KeyCorp from $212.00 to $215.00 in a research note published on Wednesday, Stock Target Advisor reports. They currently have an overweight rating on the real estate investment trust’s stock.

AVB has been the topic of several other reports. Argus reaffirmed a buy rating and issued a $215.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, April 30th. Barclays set a $325.00 price objective on shares of Align Technology and gave the company a buy rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price objective on shares of General Mills from $49.00 to $52.00 and gave the company an equal weight rating in a research report on Thursday, June 27th. Robert W. Baird boosted their price objective on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company an outperform rating in a research report on Thursday, May 16th. Finally, Mizuho set a $27.00 price objective on shares of Horizon Therapeutics and gave the company a hold rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $204.73.

AVB traded down $2.37 during trading on Wednesday, hitting $211.40. The company had a trading volume of 577,300 shares, compared to its average volume of 563,201. The stock has a market capitalization of $29.80 billion, a P/E ratio of 23.49, a PEG ratio of 3.94 and a beta of 0.52. AvalonBay Communities has a one year low of $167.01 and a one year high of $214.10. The stock has a 50-day moving average of $206.38. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.57 and a quick ratio of 0.57.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.30 EPS for the quarter, beating the consensus estimate of $2.28 by $0.02. The business had revenue of $459.80 million for the quarter, compared to analysts’ expectations of $575.92 million. AvalonBay Communities had a net margin of 45.94% and a return on equity of 9.52%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 EPS. Equities research analysts predict that AvalonBay Communities will post 9.34 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $6.08 annualized dividend and a dividend yield of 2.88%. AvalonBay Communities’s dividend payout ratio is presently 67.56%.

In related news, CFO Kevin P. O’shea sold 250 shares of AvalonBay Communities stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $205.49, for a total transaction of $51,372.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keri A. Shea sold 1,131 shares of AvalonBay Communities stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $200.09, for a total transaction of $226,301.79. The disclosure for this sale can be found here. Insiders have sold a total of 9,881 shares of company stock worth $2,042,649 over the last 90 days. 0.42% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in AVB. Cornerstone Advisors Inc. lifted its holdings in shares of AvalonBay Communities by 85.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 128 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 59 shares during the period. Flagship Harbor Advisors LLC acquired a new position in AvalonBay Communities in the 1st quarter valued at approximately $27,000. WP Advisors LLC acquired a new position in AvalonBay Communities in the 1st quarter valued at approximately $31,000. Nalls Sherbakoff Group LLC acquired a new position in AvalonBay Communities in the 4th quarter valued at approximately $35,000. Finally, Hanson McClain Inc. increased its position in AvalonBay Communities by 29.6% in the 1st quarter. Hanson McClain Inc. now owns 267 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 61 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

Read More: What is the return on assets (ROA) ratio?

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.