Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Target Price at $196.87

AvalonBay Communities, Inc. (NYSE:AVB) has been assigned a consensus rating of “Hold” from the eighteen research firms that are presently covering the company, Marketbeat.com reports. Fifteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $196.8667.

Several research analysts have issued reports on AVB shares. 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 report on Thursday, May 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of AvalonBay Communities in a report on Wednesday, August 19th. Truist Financial increased their target price on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Weiss Ratings downgraded shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price target on the stock in a report on Monday, June 1st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of AvalonBay Communities during the second quarter worth $3,368,659,000. Auto Owners Insurance Co grew its position in AvalonBay Communities by 18,031.0% in the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after buying an additional 11,720,150 shares during the last quarter. Norges Bank acquired a new position in AvalonBay Communities in the 4th quarter valued at $1,394,635,000. Legal & General Group Plc acquired a new position in AvalonBay Communities in the 2nd quarter valued at $366,672,000. Finally, Bank of America Corp DE purchased a new position in AvalonBay Communities during the 2nd quarter worth $358,275,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

AVB stock opened at $184.06 on Friday. The company has a market capitalization of $26.28 billion, a P/E ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. AvalonBay Communities has a twelve month low of $160.10 and a twelve month high of $198.63. The business has a 50 day simple moving average of $187.69 and a 200-day simple moving average of $180.46. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The business had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. During the same period in the previous year, the firm earned $2.82 earnings per share. As a group, equities analysts anticipate that AvalonBay Communities will post 11.33 EPS for the current year.

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 given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 116.34%.

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.