AvalonBay Communities, Inc. (NYSE:AVB) Receives $195.13 Average PT from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received an average recommendation of “Hold” from the eighteen research firms that are currently covering the firm, Marketbeat reports. Fourteen analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $195.1333.

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a report on Friday, June 26th. Barclays decreased their price objective on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Cantor Fitzgerald raised their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Piper Sandler lifted their target price on shares of AvalonBay Communities from $183.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, May 29th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVB. Clearstead Trust LLC boosted its stake in AvalonBay Communities by 56.0% in the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Red Spruce Capital LLC raised its stake in shares of AvalonBay Communities by 0.8% during the second quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust’s stock worth $1,507,000 after acquiring an additional 60 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of AvalonBay Communities by 1.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 60 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of AvalonBay Communities by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 62 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV lifted its holdings in shares of AvalonBay Communities by 1.4% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock worth $1,090,000 after acquiring an additional 90 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $189.09 on Thursday. The firm’s 50 day simple moving average is $185.86 and its 200 day simple moving average is $178.62. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $26.30 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.40 and a beta of 0.77. AvalonBay Communities has a 1-year low of $160.10 and a 1-year high of $205.00.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). The firm had revenue of $770.28 million during the quarter, compared to the consensus estimate of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same period in the previous year, the business earned $2.83 earnings per share. As a group, analysts expect that AvalonBay Communities will post 11.28 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, June 30th. AvalonBay Communities’s payout ratio is currently 103.19%.

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.