Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Target Price at $196.87

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received an average rating of “Hold” from the eighteen brokerages that are covering the firm, Marketbeat.com reports. Fifteen research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $196.8667.

AVB has been the subject of a number of research analyst reports. Weiss Ratings cut AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada lifted their target price on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Finally, Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a report on Monday, June 1st.

Hedge Funds Weigh In On AvalonBay Communities

Large investors have recently modified their holdings of the stock. Reflection Asset Management bought a new stake in shares of AvalonBay Communities during the 4th quarter worth about $25,000. Clearstead Trust LLC lifted its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 56 shares during the last quarter. Zions Bancorporation National Association UT lifted its position in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the last quarter. BOKF NA acquired a new stake in AvalonBay Communities during the third quarter worth approximately $31,000. Finally, Elyxium Wealth LLC bought a new stake in shares of AvalonBay Communities during the fourth quarter worth approximately $32,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $184.06 on Friday. The company has a fifty day moving average price of $187.67 and a two-hundred day moving average price of $180.57. AvalonBay Communities has a one year low of $160.10 and a one year high of $198.63. The stock has a market cap of $26.28 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.54 and a quick ratio of 0.54.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.12). The firm had revenue of $777.77 million for the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same quarter in the prior year, the firm earned $2.82 earnings per share. As a group, equities analysts predict that AvalonBay Communities will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s payout ratio is 116.34%.

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.