AvalonBay Communities, Inc. (AVB) Earns “Buy” Rating from Stifel Nicolaus
Stifel Nicolaus reiterated their buy rating on shares of AvalonBay Communities, Inc. (NYSE:AVB) in a research report released on Wednesday morning. The brokerage currently has a $209.00 price objective on the real estate investment trust’s stock.
Several other brokerages have also recently issued reports on AVB. Argus began coverage on AvalonBay Communities in a research report on Thursday, June 22nd. They issued a buy rating and a $220.00 price target on the stock. Jefferies Group LLC reiterated a hold rating and set a $196.00 target price on shares of AvalonBay Communities in a research report on Tuesday, July 4th. BidaskClub upgraded AvalonBay Communities from a sell rating to a hold rating in a research report on Thursday, August 3rd. BMO Capital Markets reiterated a hold rating and set a $191.00 target price on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG boosted their target price on AvalonBay Communities from $193.00 to $195.00 and gave the stock a hold rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $196.00.
Shares of AvalonBay Communities (AVB) opened at 178.90 on Wednesday. The stock has a market cap of $24.64 billion, a P/E ratio of 24.64 and a beta of 0.36. The stock has a 50 day moving average price of $183.90 and a 200-day moving average price of $188.63. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $199.52.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by ($0.05). The company had revenue of $530.51 million during the quarter, compared to analyst estimates of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same quarter last year, the firm earned $2.03 EPS. Equities analysts predict that AvalonBay Communities will post $5.19 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, September 28th. AvalonBay Communities’s dividend payout ratio (DPR) is 78.13%.
Several large investors have recently made changes to their positions in AVB. Creative Planning boosted its stake in shares of AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 2 shares in the last quarter. WFG Advisors LP boosted its stake in shares of AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 167 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of AvalonBay Communities by 546.9% during the 1st quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after acquiring an additional 875 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of AvalonBay Communities during the 2nd quarter worth approximately $201,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of AvalonBay Communities during the 2nd quarter worth approximately $206,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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