AvalonBay Communities, Inc. (NYSE:AVB) had its target price cut by Royal Bank Of Canada from $206.00 to $200.00 in a report published on Monday, November 6th, Marketbeat.com reports. They currently have an outperform rating on the real estate investment trust’s stock.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded AvalonBay Communities from a buy rating to a hold rating in a research report on Tuesday, July 11th. Stifel Nicolaus cut their price objective on AvalonBay Communities from $209.00 to $200.00 and set a buy rating for the company in a report on Wednesday, November 1st. BMO Capital Markets reissued a hold rating and set a $191.00 target price on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of AvalonBay Communities from a sell rating to a hold rating in a research report on Monday, October 30th. Finally, Deutsche Bank AG raised their price target on AvalonBay Communities from $193.00 to $195.00 and gave the company a hold rating in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $199.27.
Shares of AvalonBay Communities (NYSE:AVB) traded up $1.08 during midday trading on Monday, hitting $185.02. The stock had a trading volume of 455,628 shares, compared to its average volume of 682,143. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $199.52. The stock has a market capitalization of $25,400.00, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.90 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.11 EPS. sell-side analysts expect that AvalonBay Communities will post 8.61 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 annualized dividend and a yield of 3.07%. AvalonBay Communities’s dividend payout ratio is currently 89.03%.
A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its position in AvalonBay Communities by 1.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 215,600 shares of the real estate investment trust’s stock worth $38,467,000 after buying an additional 2,581 shares in the last quarter. GSA Capital Partners LLP lifted its position in AvalonBay Communities by 70.4% during the 3rd quarter. GSA Capital Partners LLP now owns 10,850 shares of the real estate investment trust’s stock worth $1,936,000 after buying an additional 4,482 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $691,000. California Public Employees Retirement System raised its holdings in shares of AvalonBay Communities by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 310,326 shares of the real estate investment trust’s stock valued at $55,368,000 after purchasing an additional 6,230 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of AvalonBay Communities by 91.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,250 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 1,073 shares during the period. 97.11% of the stock is currently owned by hedge funds and other institutional investors.
AvalonBay Communities Company Profile
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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