AvalonBay Communities (NYSE:AVB) had its price target boosted by KeyCorp from $212.00 to $215.00 in a research note released on Wednesday, Stock Target Advisor reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company an outperform rating in a report on Thursday, May 16th. Mizuho set a $27.00 price objective on shares of Horizon Therapeutics and gave the company a hold rating in a report on Wednesday, May 8th. Barclays set a $325.00 price objective on shares of Align Technology and gave the company a buy rating in a report on Thursday, April 11th. Argus reaffirmed a buy rating and set a $215.00 price objective on shares of AvalonBay Communities in a report on Tuesday, April 30th. Finally, Morgan Stanley increased their price objective on shares of General Mills from $49.00 to $52.00 and gave the company an equal weight rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. AvalonBay Communities currently has an average rating of Hold and a consensus target price of $204.73.

AVB stock opened at $210.48 on Wednesday. The firm has a market capitalization of $29.47 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 4.01 and a beta of 0.51. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $206.53. AvalonBay Communities has a one year low of $167.01 and a one year high of $214.10.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.02. The company had revenue of $459.80 million for the quarter, compared to analyst estimates of $575.92 million. AvalonBay Communities had a net margin of 45.94% and a return on equity of 9.52%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $2.18 earnings per share. Research analysts predict that AvalonBay Communities will post 9.34 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, June 27th. AvalonBay Communities’s dividend payout ratio is currently 67.56%.

In other news, CFO Kevin P. O’shea sold 250 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $205.49, for a total value of $51,372.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $210.00, for a total transaction of $420,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,881 shares of company stock worth $2,042,649. Insiders own 0.42% of the company’s stock.

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in AvalonBay Communities by 84.2% during the first quarter. Parallel Advisors LLC now owns 337 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 154 shares during the period. Jennison Associates LLC purchased a new position in AvalonBay Communities during the first quarter worth about $229,000. Campbell & CO Investment Adviser LLC raised its stake in AvalonBay Communities by 202.2% during the first quarter. Campbell & CO Investment Adviser LLC now owns 3,783 shares of the real estate investment trust’s stock worth $759,000 after purchasing an additional 2,531 shares during the period. Wedge Capital Management L L P NC raised its stake in AvalonBay Communities by 2.7% during the first quarter. Wedge Capital Management L L P NC now owns 472,813 shares of the real estate investment trust’s stock worth $94,908,000 after purchasing an additional 12,221 shares during the period. Finally, Calamos Advisors LLC raised its stake in AvalonBay Communities by 1.0% during the first quarter. Calamos Advisors LLC now owns 19,004 shares of the real estate investment trust’s stock worth $3,815,000 after purchasing an additional 187 shares during the period. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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