AvalonBay Communities, Inc. (NYSE:AVB) Receives $198.75 Consensus PT from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received a consensus recommendation of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $198.4375.

Several research analysts recently commented on AVB shares. Scotiabank reduced their target price on AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 4th. UBS Group lowered their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Piper Sandler dropped their price objective on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday, February 9th. Royal Bank Of Canada reduced their price objective on shares of AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a research report on Tuesday, January 20th.

Institutional Investors Weigh In On AvalonBay Communities

Several large investors have recently modified their holdings of AVB. Metis Global Partners LLC increased its holdings in shares of AvalonBay Communities by 21.0% during the third quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock worth $8,646,000 after buying an additional 7,780 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of AvalonBay Communities by 3.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust’s stock worth $41,754,000 after acquiring an additional 6,511 shares in the last quarter. Sun Life Financial Inc. boosted its holdings in shares of AvalonBay Communities by 5.7% in the 3rd quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust’s stock worth $31,117,000 after acquiring an additional 8,660 shares in the last quarter. FORA Capital LLC grew its position in AvalonBay Communities by 78.7% during the 2nd quarter. FORA Capital LLC now owns 15,702 shares of the real estate investment trust’s stock worth $3,195,000 after acquiring an additional 6,916 shares during the last quarter. Finally, Amundi grew its position in AvalonBay Communities by 17.7% during the 2nd quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock worth $90,768,000 after acquiring an additional 67,695 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Trading Down 0.1%

AvalonBay Communities stock opened at $163.46 on Tuesday. The business has a 50 day moving average price of $174.47 and a two-hundred day moving average price of $180.43. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.87 and a beta of 0.75. AvalonBay Communities has a 12 month low of $160.72 and a 12 month high of $217.32.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.01. The company had revenue of $767.86 million for the quarter, compared to analyst estimates of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same quarter last year, the firm earned $2.80 EPS. As a group, equities analysts forecast that AvalonBay Communities will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.78 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, March 31st. AvalonBay Communities’s dividend payout ratio is 85.47%.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.