AvalonBay Communities (AVB) Reaches New 12-Month Low After Analyst Downgrade

AvalonBay Communities Inc (NYSE:AVB) shares reached a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $189.00 to $186.00. Barclays currently has an equal weight rating on the stock. AvalonBay Communities traded as low as $166.87 and last traded at $166.87, with a volume of 554544 shares. The stock had previously closed at $168.25.

Several other research analysts have also issued reports on the company. SunTrust Banks set a $194.00 price target on AvalonBay Communities and gave the stock a “buy” rating in a research report on Monday, January 22nd. Stifel Nicolaus restated a “buy” rating and issued a $185.00 price target on shares of AvalonBay Communities in a research report on Friday, January 19th. Robert W. Baird restated a “buy” rating and issued a $187.00 price target on shares of AvalonBay Communities in a research report on Tuesday, January 9th. JPMorgan Chase & Co. lowered AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a research report on Friday, December 15th. Finally, BMO Capital Markets restated a “hold” rating and issued a $190.00 price target on shares of AvalonBay Communities in a research report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $198.88.

In other AvalonBay Communities news, CEO Timothy J. Naughton sold 25,160 shares of AvalonBay Communities 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $182.65, for a total value of $273,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,660 shares of company stock worth $5,628,669. Corporate insiders own 0.46% of the company’s stock.

Several institutional investors have recently modified their holdings of AVB. Bartlett & Co. LLC lifted its holdings in shares of AvalonBay Communities by 112.8% in the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 361 shares in the last quarter. Amica Retiree Medical Trust bought a new stake in shares of AvalonBay Communities in the third quarter valued at about $132,000. WFG Advisors LP lifted its holdings in shares of AvalonBay Communities by 24.9% in the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of AvalonBay Communities in the second quarter valued at about $226,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of AvalonBay Communities in the third quarter valued at about $227,000. Institutional investors own 94.81% of the company’s stock.

The stock has a market capitalization of $23,040.00, a price-to-earnings ratio of 26.16, a P/E/G ratio of 2.52 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $1.42 dividend. The ex-dividend date was Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.40%. AvalonBay Communities’s dividend payout ratio (DPR) is 89.03%.

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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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