AvalonBay Communities (NYSE:AVB) Price Target Raised to $206.00

AvalonBay Communities (NYSE:AVB) had its price objective hoisted by Barclays from $205.00 to $206.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

AVB has been the subject of a number of other research reports. Scotiabank upped their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Jefferies Financial Group upgraded AvalonBay Communities to a “hold” rating in a research note on Wednesday, July 22nd. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a report on Monday, June 1st. Wells Fargo & Company reduced their price target on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Finally, Cantor Fitzgerald raised their price objective on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $196.87.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.06 on Monday. 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 quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average price is $187.75 and its two-hundred day moving average price is $180.35. AvalonBay Communities has a 52 week low of $160.10 and a 52 week high of $198.63.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million for the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period in the previous year, the business posted $2.82 earnings per share. On average, equities analysts predict that AvalonBay Communities will post 11.33 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.78 dividend. 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 dividend payout ratio (DPR) is currently 116.34%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Reflection Asset Management purchased a new stake in AvalonBay Communities in the 4th quarter worth about $25,000. Clearstead Trust LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 56 shares during the last quarter. Zions Bancorporation National Association UT lifted its holdings 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 valued at $29,000 after purchasing an additional 120 shares during the last quarter. BOKF NA bought a new position in AvalonBay Communities during the third quarter worth about $31,000. Finally, Elyxium Wealth LLC bought a new position in AvalonBay Communities during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

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.