AvalonBay Communities, Inc. (NYSE:AVB) Receives Average Rating of “Hold” from Analysts

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received an average recommendation of “Hold” from the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $198.4375.

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Wells Fargo & Company reduced their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Morgan Stanley restated an “equal weight” rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Barclays reduced their target price on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Finally, Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a research note on Monday, June 1st.

AvalonBay Communities Stock Up 1.3%

Shares of NYSE:AVB opened at $186.78 on Friday. The stock has a market cap of $25.98 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.25 and a beta of 0.78. The firm has a fifty day moving average price of $179.95 and a 200 day moving average price of $177.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. AvalonBay Communities has a 1-year low of $160.10 and a 1-year high of $209.86.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The business had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter in the prior year, the company earned $2.83 EPS. Sell-side analysts predict that AvalonBay Communities will post 11.29 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 103.19%.

Institutional Trading of AvalonBay Communities

Several hedge funds have recently made changes to their positions in the company. Clearstead Trust LLC lifted its stake in shares of AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of AvalonBay Communities by 1.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 60 shares during the period. Keybank National Association OH lifted its stake in shares of AvalonBay Communities by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 62 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of AvalonBay Communities by 1.5% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,779 shares of the real estate investment trust’s stock worth $1,116,000 after acquiring an additional 84 shares during the period. Finally, Arbor Capital Management Inc. ADV lifted its stake in shares of AvalonBay Communities by 1.4% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock worth $1,090,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

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.