AvalonBay Communities (NYSE:AVB) Given New $213.00 Price Target at Mizuho

AvalonBay Communities (NYSE:AVB) had its price objective lowered by Mizuho from $238.00 to $213.00 in a research note published on Friday,Benzinga reports. Mizuho currently has an outperform rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the company. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a report on Friday, April 4th. Evercore ISI increased their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Barclays increased their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Finally, Morgan Stanley raised their target price on AvalonBay Communities from $226.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $237.86.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $198.13 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a 1 year low of $180.40 and a 1 year high of $239.29. The business has a fifty day simple moving average of $205.10 and a 200 day simple moving average of $216.15. The firm has a market cap of $28.21 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. The business had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. During the same period last year, the company earned $2.70 earnings per share. As a group, sell-side analysts predict that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $7.00 annualized dividend and a yield of 3.53%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 87.17%.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors have recently made changes to their positions in AVB. Proathlete Wealth Management LLC bought a new position in shares of AvalonBay Communities in the first quarter worth about $29,000. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities in the first quarter worth about $33,000. Ancora Advisors LLC increased its stake in shares of AvalonBay Communities by 1,666.7% in the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 150 shares during the period. Whipplewood Advisors LLC bought a new position in shares of AvalonBay Communities in the fourth quarter worth about $36,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of AvalonBay Communities in the fourth quarter worth about $44,000. 92.61% of the stock is currently owned by institutional investors.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.