BMO Capital Markets Analysts Give AvalonBay Communities (AVB) a $175.00 Price Target
BMO Capital Markets set a $175.00 target price on AvalonBay Communities (NYSE:AVB) in a research note released on Friday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.
Other research analysts have also issued research reports about the stock. Mizuho set a $185.00 price target on shares of AvalonBay Communities and gave the company a buy rating in a research note on Friday, February 9th. SunTrust Banks reaffirmed a buy rating and issued a $186.00 price target on shares of AvalonBay Communities in a research note on Friday, February 2nd. Stifel Nicolaus reissued a buy rating and issued a $185.00 price objective on shares of AvalonBay Communities in a research report on Friday, January 19th. Robert W. Baird reissued a buy rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, January 9th. Finally, UBS Group raised shares of AvalonBay Communities from a neutral rating to a buy rating and boosted their price objective for the stock from $190.00 to $206.00 in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $192.35.
AvalonBay Communities (NYSE:AVB) opened at $153.90 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a one year low of $152.92 and a one year high of $199.52. The firm has a market cap of $21,252.90, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.39 and a beta of 0.42.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.82%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. AvalonBay Communities’s payout ratio is presently 89.31%.
In related news, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,660 shares of company stock worth $5,264,889. 0.46% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Bartlett & Co. LLC increased its holdings in shares of AvalonBay Communities by 112.8% in the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 361 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in shares of AvalonBay Communities in the third quarter valued at $132,000. Keeler Thomas Management LLC acquired a new position in shares of AvalonBay Communities in the fourth quarter valued at $166,000. NuWave Investment Management LLC acquired a new position in shares of AvalonBay Communities in the fourth quarter valued at $181,000. Finally, MUFG Americas Holdings Corp acquired a new position in shares of AvalonBay Communities in the fourth quarter valued at $189,000. Hedge funds and other institutional investors own 93.69% of the company’s stock.
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About AvalonBay Communities
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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