BMO Capital Markets set a $178.00 price objective on AvalonBay Communities (NYSE:AVB) in a research note released on Monday. The brokerage currently has a hold rating on the real estate investment trust’s stock.
AVB has been the topic of a number of other research reports. UBS Group upgraded AvalonBay Communities from a neutral rating to a buy rating and raised their price objective for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. Mizuho restated a buy rating and set a $220.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 6th. SunTrust Banks restated a buy rating and set a $186.00 price objective on shares of AvalonBay Communities in a research note on Friday, February 2nd. JPMorgan Chase & Co. lowered AvalonBay Communities from an overweight rating to a neutral rating and set a $211.00 price objective on the stock. in a research note on Friday, December 15th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $185.00 price target on shares of AvalonBay Communities in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. AvalonBay Communities currently has an average rating of Hold and a consensus target price of $194.82.
Shares of AvalonBay Communities (NYSE:AVB) opened at $158.75 on Monday. AvalonBay Communities has a fifty-two week low of $154.82 and a fifty-two week high of $199.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market capitalization of $22,040.21, a P/E ratio of 18.52, a P/E/G ratio of 2.45 and a beta of 0.34.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $554.20 million. During the same quarter last year, the company earned $2.12 EPS. The company’s revenue was up 7.1% on a year-over-year basis. analysts predict that AvalonBay Communities will post 9.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $5.88 dividend on an annualized basis and a yield of 3.70%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s payout ratio is currently 89.31%.
In related news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total transaction of $365,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The stock was 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. Insiders have sold a total of 30,660 shares of company stock worth $5,628,669 in the last 90 days. 0.46% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Stifel Financial Corp lifted its holdings in AvalonBay Communities by 75.8% during the 2nd quarter. Stifel Financial Corp now owns 10,875 shares of the real estate investment trust’s stock worth $2,090,000 after buying an additional 4,690 shares during the period. Cubist Systematic Strategies LLC acquired a new position in AvalonBay Communities during the 2nd quarter worth about $226,000. Koch Industries Inc. acquired a new position in AvalonBay Communities during the 2nd quarter worth about $365,000. Toronto Dominion Bank lifted its holdings in AvalonBay Communities by 25.9% during the 2nd quarter. Toronto Dominion Bank now owns 46,671 shares of the real estate investment trust’s stock worth $8,967,000 after buying an additional 9,607 shares during the period. Finally, WFG Advisors LP lifted its holdings in AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.
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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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