Robert W. Baird reiterated their buy rating on shares of AvalonBay Communities (NYSE:AVB) in a research note published on Tuesday. The brokerage currently has a $187.00 target price on the real estate investment trust’s stock.
Several other equities research analysts have also recently issued reports on AVB. BMO Capital Markets reaffirmed a hold rating and set a $190.00 price target on shares of AvalonBay Communities in a research note on Monday, November 27th. Stifel Nicolaus decreased their price target on shares of AvalonBay Communities from $209.00 to $200.00 and set a buy rating on the stock in a research note on Wednesday, November 1st. Mizuho reaffirmed a buy rating and set a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. KeyCorp reaffirmed a hold rating on shares of AvalonBay Communities in a research note on Sunday, September 24th. Finally, Evercore ISI raised shares of AvalonBay Communities from an in-line rating to an outperform rating and set a $194.00 price target on the stock in a research note on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $200.40.
AvalonBay Communities (AVB) traded down $1.54 during trading on Tuesday, hitting $168.23. 494,377 shares of the company’s stock traded hands, compared to its average volume of 548,289. AvalonBay Communities has a one year low of $167.51 and a one year high of $199.52. The firm has a market cap of $23,220.00, a PE ratio of 26.37, a P/E/G ratio of 2.58 and a beta of 0.35. 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 (NYSE:AVB) last released its quarterly earnings results 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). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm had revenue of $550.50 million for the quarter, compared to analyst estimates of $539.69 million. During the same period in the prior year, the business earned $2.11 earnings per share. AvalonBay Communities’s revenue for the quarter was up 6.6% on a year-over-year basis. equities research analysts predict that AvalonBay Communities will post 8.62 earnings per share for the current fiscal year.
The business also recently announced 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 is Thursday, December 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.38%. AvalonBay Communities’s dividend payout ratio is presently 89.03%.
In related news, CEO Timothy J. Naughton sold 25,160 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The transaction was disclosed in a legal 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 that occurred on Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,628,669 over the last three months. Corporate insiders own 0.46% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. raised its holdings in AvalonBay Communities by 6.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock valued at $2,051,000 after buying an additional 716 shares during the period. Magnetar Financial LLC purchased a new position in AvalonBay Communities in the third quarter valued at approximately $772,000. Koch Industries Inc. purchased a new position in AvalonBay Communities in the second quarter valued at approximately $365,000. PGGM Investments raised its holdings in AvalonBay Communities by 5.6% in the third quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock valued at $293,003,000 after buying an additional 86,594 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in AvalonBay Communities in the third quarter valued at approximately $624,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.
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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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