AvalonBay Communities (NYSE:AVB) Sets New 12-Month Low – Here’s Why

AvalonBay Communities, Inc. (NYSE:AVB) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $166.44 and last traded at $167.1250, with a volume of 525912 shares changing hands. The stock had previously closed at $170.57.

Wall Street Analyst Weigh In

AVB has been the topic of several research reports. UBS Group dropped their price objective on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Cantor Fitzgerald lifted their price objective on AvalonBay Communities from $179.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Citigroup dropped their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Barclays decreased their price target on AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating on the stock in a research report on Friday, March 6th. Finally, Royal Bank Of Canada cut their price objective on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $198.75.

AvalonBay Communities Stock Down 2.5%

The firm’s 50-day moving average is $176.77 and its 200 day moving average is $181.69. The firm has a market capitalization of $23.30 billion, a P/E ratio of 20.30, a PEG ratio of 2.96 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.77 and a current ratio of 0.77.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The business had revenue of $767.86 million for the quarter, compared to analysts’ expectations of $766.38 million. During the same period last year, the firm posted $2.80 earnings per share. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s payout ratio is 86.94%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVB. Reflection Asset Management purchased a new stake in AvalonBay Communities in the fourth quarter worth about $25,000. Zions Bancorporation National Association UT grew its stake in shares of AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the period. Mather Group LLC. purchased a new stake in AvalonBay Communities in the 3rd quarter worth approximately $30,000. BOKF NA bought a new stake in AvalonBay Communities during the 3rd quarter worth approximately $31,000. Finally, Elyxium Wealth LLC bought a new stake in AvalonBay Communities during the 4th quarter worth approximately $32,000. Institutional investors own 92.61% of the company’s stock.

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.