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 report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Barclays reaffirmed an “equal weight” rating and issued a $205.00 price objective (up from $203.00) on shares of AvalonBay Communities in a report on Tuesday, July 14th. Morgan Stanley reissued an “equal weight” rating and set a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Monday, July 6th. UBS Group decreased their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Piper Sandler upped their price objective on AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and a consensus price target of $196.80.

AvalonBay Communities Stock Down 0.2%

AVB stock opened at $190.27 on Wednesday. AvalonBay Communities has a one year low of $160.10 and a one year high of $204.68. The stock has a market capitalization of $27.03 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 3.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $187.17 and a 200-day moving average of $179.29.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $1.63. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The business had revenue of $712.17 million for the quarter, compared to analyst estimates of $772.37 million. During the same period in the previous year, the business posted $2.82 earnings per share. As a group, analysts expect that AvalonBay Communities will post 11.28 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio is presently 103.19%.

Institutional Investors Weigh In On AvalonBay Communities

Hedge funds and other institutional investors have recently modified their holdings of the stock. Reflection Asset Management acquired a new stake in shares of AvalonBay Communities in the 4th quarter worth approximately $25,000. Clearstead Trust LLC raised 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 worth $25,000 after purchasing an additional 56 shares during the last quarter. Zions Bancorporation National Association UT raised 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 worth $29,000 after purchasing an additional 120 shares during the last quarter. BOKF NA purchased a new stake in AvalonBay Communities during the third quarter worth $31,000. Finally, Elyxium Wealth LLC purchased a new stake in AvalonBay Communities during the fourth quarter worth $32,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.