BTIG Research upgraded shares of AvalonBay Communities (NYSE:AVB) from a neutral rating to a buy rating in a report published on Thursday morning, MarketBeat.com reports. The firm currently has $216.00 price target on the real estate investment trust’s stock.

A number of other analysts have also commented on the stock. ValuEngine raised shares of AvalonBay Communities from a hold rating to a buy rating in a research report on Wednesday, November 21st. Scotiabank assumed coverage on shares of AvalonBay Communities in a research report on Tuesday, October 16th. They issued a sector perform rating on the stock. Deutsche Bank boosted their price objective on shares of AvalonBay Communities from $186.00 to $192.00 and gave the stock a hold rating in a research report on Wednesday, September 5th. Argus boosted their price objective on shares of AvalonBay Communities from $196.00 to $205.00 and gave the stock a buy rating in a research report on Wednesday, November 21st. Finally, BMO Capital Markets raised shares of AvalonBay Communities from a market perform rating to an outperform rating and boosted their price objective for the stock from $188.00 to $195.00 in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $192.88.

Shares of AvalonBay Communities stock traded down $2.57 on Thursday, hitting $189.10. The company had a trading volume of 217,878 shares, compared to its average volume of 491,048. The stock has a market capitalization of $25.89 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.82 and a beta of 0.42. AvalonBay Communities has a twelve month low of $152.65 and a twelve month high of $191.78. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.72.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.87). The company had revenue of $575.98 million during the quarter, compared to analyst estimates of $573.87 million. AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 EPS. Equities analysts anticipate that AvalonBay Communities will post 8.99 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, December 28th. AvalonBay Communities’s dividend payout ratio is presently 68.21%.

In other AvalonBay Communities news, COO Sean J. Breslin sold 3,100 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $189.13, for a total transaction of $586,303.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Edward M. Schulman sold 1,400 shares of the company’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $183.76, for a total transaction of $257,264.00. The disclosure for this sale can be found here. In the last three months, insiders sold 39,453 shares of company stock worth $7,365,478. 0.43% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in AvalonBay Communities by 1.6% during the third quarter. BlackRock Inc. now owns 15,315,518 shares of the real estate investment trust’s stock worth $2,774,406,000 after acquiring an additional 242,688 shares in the last quarter. Dimensional Fund Advisors LP raised its position in AvalonBay Communities by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,087,991 shares of the real estate investment trust’s stock worth $378,227,000 after acquiring an additional 9,342 shares in the last quarter. Renaissance Technologies LLC raised its position in AvalonBay Communities by 1.7% during the third quarter. Renaissance Technologies LLC now owns 1,549,800 shares of the real estate investment trust’s stock worth $280,746,000 after acquiring an additional 25,286 shares in the last quarter. Morgan Stanley raised its position in AvalonBay Communities by 6.0% during the third quarter. Morgan Stanley now owns 1,543,079 shares of the real estate investment trust’s stock worth $279,528,000 after acquiring an additional 87,440 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in AvalonBay Communities by 4.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,445,048 shares of the real estate investment trust’s stock worth $248,390,000 after acquiring an additional 65,431 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

As of September 30, 2018, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 84,490 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 15 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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