BidaskClub cut shares of AvalonBay Communities, Inc. (NYSE:AVB) from a hold rating to a sell rating in a research note issued to investors on Friday.

Several other brokerages have also recently weighed in on AVB. BTIG Research boosted their price target on shares of AvalonBay Communities from $191.00 to $200.00 and gave the stock a buy rating in a research report on Monday, April 24th. Barclays PLC boosted their price target on shares of AvalonBay Communities from $174.00 to $188.00 and gave the stock an equal weight rating in a research report on Wednesday, April 19th. Evercore ISI reduced their price target on shares of AvalonBay Communities from $188.00 to $186.00 and set an in-line rating on the stock in a research report on Wednesday, April 19th. BMO Capital Markets restated a hold rating and issued a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, May 25th. Finally, Argus initiated coverage on shares of AvalonBay Communities in a research report on Thursday, June 22nd. They issued a buy rating and a $220.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $193.58.

AvalonBay Communities (AVB) opened at 192.35 on Friday. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $199.52. The company’s 50 day moving average is $191.62 and its 200 day moving average is $186.45. The company has a market cap of $26.43 billion, a price-to-earnings ratio of 25.63 and a beta of 0.34.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is 75.63%.

In other news, insider Matthew H. Birenbaum sold 2,750 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $191.20, for a total transaction of $525,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Keri A. Shea sold 1,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $192.36, for a total transaction of $192,360.00. The disclosure for this sale can be found here. Insiders have sold 29,336 shares of company stock worth $5,641,111 in the last quarter. Company insiders own 0.53% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Creative Planning raised its stake in shares of AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares in the last quarter. BB&T Securities LLC raised its stake in shares of AvalonBay Communities by 0.5% in the first quarter. BB&T Securities LLC now owns 3,508 shares of the real estate investment trust’s stock worth $644,000 after buying an additional 16 shares in the last quarter. Whittier Trust Co. raised its stake in shares of AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 31 shares in the last quarter. Blair William & Co. IL raised its stake in shares of AvalonBay Communities by 0.6% in the first quarter. Blair William & Co. IL now owns 7,171 shares of the real estate investment trust’s stock worth $1,317,000 after buying an additional 44 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of AvalonBay Communities by 0.4% in the first quarter. Fifth Third Bancorp now owns 12,440 shares of the real estate investment trust’s stock worth $2,284,000 after buying an additional 45 shares in the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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