Robert W. Baird reaffirmed their buy rating on shares of AvalonBay Communities (NYSE:AVB) in a report released on Tuesday, January 9th. They currently have a $187.00 price objective on the real estate investment trust’s stock.
A number of other brokerages have also commented on AVB. Stifel Nicolaus decreased their target price on AvalonBay Communities from $209.00 to $200.00 and set a buy rating for the company in a research report on Wednesday, November 1st. Zacks Investment Research raised AvalonBay Communities from a sell rating to a hold rating in a report on Monday, October 30th. BMO Capital Markets reissued a hold rating and set a $190.00 price objective on shares of AvalonBay Communities in a report on Monday, November 27th. Royal Bank of Canada decreased their price objective on AvalonBay Communities from $206.00 to $200.00 and set an outperform rating for the company in a report on Monday, November 6th. Finally, JPMorgan Chase & Co. lowered AvalonBay Communities from an overweight rating to a neutral rating and set a $211.00 target price for the company. in a report on Friday, December 15th. Two equities 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 stock presently has an average rating of Hold and a consensus target price of $199.40.
Shares of AvalonBay Communities (AVB) traded up $0.91 on Tuesday, reaching $168.70. The company’s stock had a trading volume of 722,165 shares, compared to its average volume of 573,108. The firm has a market cap of $23,190.00, a P/E ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.35. AvalonBay Communities has a 52-week low of $167.09 and a 52-week high of $199.52. 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 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 analysts’ consensus estimates of $2.17 by ($0.45). The business had revenue of $550.50 million during 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 firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 earnings per share. equities research analysts forecast that AvalonBay Communities will post 8.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $1.42 dividend. The ex-dividend date was Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.37%. AvalonBay Communities’s dividend payout ratio is presently 89.03%.
In other news, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total transaction of $365,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. The disclosure for this sale can be found here. In the last three months, insiders sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Candriam Luxembourg S.C.A. lifted 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 worth $2,051,000 after buying an additional 716 shares during the period. Magnetar Financial LLC purchased a new position in shares of AvalonBay Communities during the third quarter valued at approximately $772,000. Koch Industries Inc. purchased a new position in shares of AvalonBay Communities during the second quarter valued at approximately $365,000. PGGM Investments lifted its holdings in shares of AvalonBay Communities by 5.6% during 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 purchasing an additional 86,594 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of AvalonBay Communities during the third quarter valued at approximately $624,000. Institutional investors and hedge funds own 94.86% 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.
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