AvalonBay Communities (AVB) Upgraded at Citigroup

Citigroup upgraded shares of AvalonBay Communities (NYSE:AVB) from a neutral rating to a buy rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has $190.00 price objective on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on AVB. JPMorgan Chase downgraded AvalonBay Communities from an overweight rating to a neutral rating and set a $211.00 price objective for the company. in a research report on Friday, December 15th. Robert W. Baird reiterated a buy rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, January 9th. BMO Capital Markets reiterated a hold rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, January 31st. SunTrust Banks set a $194.00 price objective on AvalonBay Communities and gave the company a buy rating in a research report on Monday, January 22nd. Finally, Stifel Nicolaus reiterated a buy rating and issued a $185.00 price objective on shares of AvalonBay Communities in a research report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $191.00.

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Shares of AVB opened at $166.00 on Friday. The company has a market capitalization of $22,923.94, a price-to-earnings ratio of 19.26, a PEG ratio of 2.60 and a beta of 0.36. 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 1 year low of $152.65 and a 1 year high of $199.52.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $1.03. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The firm had revenue of $555.29 million during the quarter, compared to the consensus estimate of $554.20 million. During the same quarter in the previous year, the company posted $2.12 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. sell-side analysts anticipate that AvalonBay Communities will post 8.96 earnings per share for the current fiscal year.

The firm 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 dividend yield of 3.54%. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio is currently 68.21%.

Institutional investors have recently made changes to their positions in the stock. Capital Analysts LLC raised its holdings in shares of AvalonBay Communities by 441.3% during the fourth quarter. Capital Analysts LLC now owns 2,230 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 1,818 shares in the last quarter. Bartlett & Co. LLC raised its holdings in shares of AvalonBay Communities by 112.8% during the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 361 shares in the last quarter. Keeler Thomas Management LLC bought a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $166,000. NuWave Investment Management LLC bought a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $181,000. Finally, MUFG Americas Holdings Corp bought a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $189,000. Institutional investors own 94.72% 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.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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