AvalonBay Communities (NYSE:AVB) Issues Earnings Results

AvalonBay Communities (NYSE:AVB) released its quarterly earnings results on Wednesday. The real estate investment trust reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $1.62, Zacks reports. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%.

AvalonBay Communities Price Performance

Shares of NYSE:AVB traded down $0.38 on Wednesday, hitting $190.27. The stock had a trading volume of 621,295 shares, compared to its average volume of 1,097,177. AvalonBay Communities has a twelve month low of $160.10 and a twelve month high of $204.68. 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 firm’s 50 day moving average price is $187.09 and its 200-day moving average price is $179.23. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.19%.

Hedge Funds Weigh In On AvalonBay Communities

Institutional investors have recently added to or reduced their stakes in the company. Compound Planning Inc. bought a new stake in AvalonBay Communities during the fourth quarter worth about $238,000. Invesco Ltd. increased its stake in shares of AvalonBay Communities by 1.2% in the fourth quarter. Invesco Ltd. now owns 2,615,640 shares of the real estate investment trust’s stock valued at $474,242,000 after buying an additional 29,834 shares in the last quarter. Rare Wolf Capital LLC bought a new position in shares of AvalonBay Communities in the fourth quarter valued at about $202,000. Corient Private Wealth LLC lifted its position in AvalonBay Communities by 1,181.0% during the 4th quarter. Corient Private Wealth LLC now owns 675,070 shares of the real estate investment trust’s stock worth $122,397,000 after buying an additional 622,370 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in AvalonBay Communities during the 4th quarter worth about $233,000. 92.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Monday, July 6th. Piper Sandler increased their price objective on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group lowered their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a research report on Monday, June 1st. Finally, Truist Financial increased their price target on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $196.80.

AvalonBay Communities Company Profile

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.