AvalonBay Communities, Inc. (NYSE:AVB) Receives $195.85 Consensus PT from Analysts

AvalonBay Communities, Inc. (NYSE:AVB) has earned a consensus rating of “Hold” from the twenty ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $195.85.

A number of brokerages have recently weighed in on AVB. Colliers Securities began coverage on shares of AvalonBay Communities in a report on Wednesday, April 28th. They issued a “neutral” rating and a $196.00 price objective for the company. Evercore ISI upgraded shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating in a report on Monday, May 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Monday, April 19th. Royal Bank of Canada began coverage on shares of AvalonBay Communities in a report on Tuesday, March 30th. They set a “sector perform” rating and a $193.00 price target for the company. Finally, TheStreet lowered shares of AvalonBay Communities from a “b” rating to a “c+” rating in a report on Wednesday, April 28th.

Shares of AVB opened at $214.66 on Tuesday. The company has a market cap of $29.97 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 9.42 and a beta of 0.93. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a fifty-two week low of $131.38 and a fifty-two week high of $216.64. The business has a 50 day simple moving average of $196.94.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.92). The business had revenue of $497.44 million during the quarter, compared to the consensus estimate of $544.98 million. AvalonBay Communities had a return on equity of 7.47% and a net margin of 35.63%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 earnings per share. Equities research analysts forecast that AvalonBay Communities will post 7.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Tuesday, June 29th. AvalonBay Communities’s dividend payout ratio is presently 73.19%.

In other news, CFO Kevin P. O’shea sold 3,000 shares of the company’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $204.19, for a total value of $612,570.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Keri A. Shea sold 994 shares of the company’s stock in a transaction dated Thursday, June 3rd. The stock was sold at an average price of $212.94, for a total transaction of $211,662.36. The disclosure for this sale can be found here. Insiders sold a total of 5,265 shares of company stock worth $1,083,860 over the last ninety days. Insiders own 0.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. The PNC Financial Services Group Inc. grew its position in shares of AvalonBay Communities by 4.9% in the 1st quarter. The PNC Financial Services Group Inc. now owns 15,489 shares of the real estate investment trust’s stock worth $2,858,000 after buying an additional 717 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in AvalonBay Communities by 216.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 296,286 shares of the real estate investment trust’s stock worth $47,533,000 after purchasing an additional 202,588 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in AvalonBay Communities by 0.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 134,982 shares of the real estate investment trust’s stock worth $21,655,000 after purchasing an additional 937 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in AvalonBay Communities by 87.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 10,605 shares of the real estate investment trust’s stock worth $1,701,000 after purchasing an additional 4,934 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in AvalonBay Communities by 2.9% in the 1st quarter. Shell Asset Management Co. now owns 6,987 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 197 shares in the last quarter. 86.70% of the stock is currently owned by hedge funds and other institutional investors.

About AvalonBay Communities

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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