AvalonBay Communities (NYSE:AVB) Rating Increased to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of AvalonBay Communities (NYSE:AVB) to a hold rating in a research report report published on Friday,Zacks.com reports.

Several other research analysts have also recently commented on the company. Piper Sandler boosted their target price on AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Barclays reduced their price target on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Cantor Fitzgerald lifted their price objective on AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Scotiabank lowered their price objective on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research report on Thursday, May 14th. Finally, UBS Group cut their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $195.13.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $190.13 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities has a 52-week low of $160.10 and a 52-week high of $206.62. The firm has a market cap of $26.45 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 3.24 and a beta of 0.78. The company’s 50 day moving average is $182.76 and its two-hundred day moving average is $177.81.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 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 business had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. During the same quarter last year, the firm earned $2.83 EPS. On average, research analysts expect that AvalonBay Communities will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Reflection Asset Management purchased a new position in shares of AvalonBay Communities in the 4th quarter valued at about $25,000. Clearstead Trust LLC lifted its stake 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 purchasing an additional 56 shares during the last quarter. Zions Bancorporation National Association UT boosted its holdings in AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA acquired a new position in AvalonBay Communities in the third quarter valued at approximately $31,000. Finally, Headlands Technologies LLC purchased a new position in AvalonBay Communities in the second quarter valued at approximately $36,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile

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.