AvalonBay Communities, Inc. (NYSE:AVB) Receives $198.44 Average PT from Analysts

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have earned a consensus rating of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Thirteen research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $198.4375.

Several research analysts have issued reports on AVB shares. Piper Sandler raised their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a research note on Monday, June 1st. Truist Financial lowered their price objective on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd.

Institutional Trading of AvalonBay Communities

Several hedge funds have recently modified their holdings of the stock. Metis Global Partners LLC grew its position in AvalonBay Communities by 21.0% in the 3rd quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock valued at $8,646,000 after purchasing an additional 7,780 shares during the period. Pensionfund PDN acquired a new stake in AvalonBay Communities in the 4th quarter valued at $3,648,000. Sun Life Financial Inc. grew its position in 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 valued at $31,117,000 after purchasing an additional 8,660 shares during the period. Nordea Investment Management AB grew its position in AvalonBay Communities by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock valued at $80,449,000 after purchasing an additional 17,352 shares during the period. Finally, First Trust Advisors LP grew its position in AvalonBay Communities by 6.4% in the 3rd quarter. First Trust Advisors LP now owns 223,074 shares of the real estate investment trust’s stock valued at $43,091,000 after purchasing an additional 13,356 shares during the period. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 1.1%

AvalonBay Communities stock opened at $184.56 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. AvalonBay Communities has a 52-week low of $160.10 and a 52-week high of $209.86. The firm has a 50 day moving average price of $179.51 and a two-hundred day moving average price of $177.61. The firm has a market cap of $25.67 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 3.24 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The firm had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same quarter in the previous year, the business posted $2.83 EPS. Equities analysts predict that AvalonBay Communities will post 11.31 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.78 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. AvalonBay Communities’s payout ratio is currently 103.19%.

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.