SunTrust Banks set a $194.00 price objective on AvalonBay Communities (NYSE:AVB) in a research report sent to investors on Monday, January 22nd. The firm currently has a buy rating on the real estate investment trust’s stock. SunTrust Banks also issued estimates for AvalonBay Communities’ FY2018 earnings at $9.15 EPS, FY2019 earnings at $9.65 EPS, FY2020 earnings at $10.28 EPS, FY2021 earnings at $10.73 EPS and FY2022 earnings at $11.12 EPS.
A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded AvalonBay Communities from a sell rating to a hold rating in a research report on Monday, October 30th. JPMorgan Chase & Co. cut AvalonBay Communities from an overweight rating to a neutral rating and set a $211.00 price target on the stock. in a research note on Friday, December 15th. Royal Bank of Canada decreased their price target on AvalonBay Communities from $206.00 to $200.00 and set an outperform rating on the stock in a research note on Monday, November 6th. Robert W. Baird reaffirmed a buy rating and issued a $187.00 price target on shares of AvalonBay Communities in a research note on Tuesday, January 9th. Finally, UBS Group raised AvalonBay Communities from a neutral rating to a buy rating and lifted their price target for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $194.82.
Shares of AvalonBay Communities (NYSE:AVB) traded down $0.48 on Monday, hitting $158.92. The stock had a trading volume of 826,029 shares, compared to its average volume of 860,618. The company has a market cap of $21,880.00, a P/E ratio of 25.03, a PEG ratio of 2.44 and a beta of 0.34. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a 12-month low of $154.82 and a 12-month high of $199.52.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $1.03. The firm had revenue of $555.29 million during the quarter, compared to the consensus estimate of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. equities research analysts expect that AvalonBay Communities will post 9.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.70%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. AvalonBay Communities’s payout ratio is 89.45%.
In other news, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $181.89, for a total transaction of $363,780.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction 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 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 large investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in AvalonBay Communities by 1.3% during the fourth quarter. BlackRock Inc. now owns 15,114,729 shares of the real estate investment trust’s stock valued at $2,696,619,000 after acquiring an additional 187,850 shares during the last quarter. Bank of New York Mellon Corp increased its position in AvalonBay Communities by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,493,069 shares of the real estate investment trust’s stock valued at $623,200,000 after acquiring an additional 308,139 shares during the last quarter. Principal Financial Group Inc. increased its position in AvalonBay Communities by 5.0% during the third quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after acquiring an additional 138,649 shares during the last quarter. PGGM Investments increased its position in AvalonBay Communities by 21.4% during the fourth quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock valued at $355,571,000 after acquiring an additional 350,790 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in AvalonBay Communities by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,951,873 shares of the real estate investment trust’s stock valued at $348,254,000 after acquiring an additional 38,163 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
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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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