Stifel Nicolaus reissued their buy rating on shares of AvalonBay Communities (NYSE:AVB) in a research note published on Friday, January 19th. They currently have a $185.00 price objective on the real estate investment trust’s stock.
Several other analysts also recently weighed in on AVB. KeyCorp reissued a hold rating on shares of AvalonBay Communities in a research note on Sunday, September 24th. Evercore ISI raised shares of AvalonBay Communities from an in-line rating to an outperform rating and set a $194.00 price target for the company in a research note on Monday, September 25th. Zacks Investment Research raised shares of AvalonBay Communities from a sell rating to a hold rating in a research note on Monday, October 30th. Mizuho reissued a buy rating and issued a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. Finally, Royal Bank of Canada lowered their price target on shares of AvalonBay Communities from $206.00 to $200.00 and set an outperform rating for the company in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. AvalonBay Communities has a consensus rating of Hold and an average price target of $194.82.
AvalonBay Communities (NYSE:AVB) traded down $0.48 during trading on Friday, reaching $158.92. 826,029 shares of the company were exchanged, compared to its average volume of 860,618. AvalonBay Communities has a fifty-two week low of $154.82 and a fifty-two week high of $199.52. The stock has a market cap of $21,880.00, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $1.03. The business had revenue of $555.29 million during the quarter, compared to analyst estimates of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. AvalonBay Communities’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 EPS. equities research analysts anticipate that AvalonBay Communities will post 9.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a $1.47 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.70%. AvalonBay Communities’s payout ratio is presently 89.45%.
In related news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $181.89, for a total transaction of $363,780.00. The sale was disclosed in a legal filing 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 dated Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock worth $5,628,669 in the last quarter. 0.46% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its stake in shares of AvalonBay Communities by 3.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $4,442,000 after purchasing an additional 784 shares during the period. GSA Capital Partners LLP bought a new position in shares of AvalonBay Communities during the 2nd quarter worth approximately $1,224,000. FMR LLC lifted its position in shares of AvalonBay Communities by 22.2% during the 2nd quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock worth $1,026,454,000 after buying an additional 969,095 shares during the period. California Public Employees Retirement System lifted its position in shares of AvalonBay Communities by 4.7% during the 2nd quarter. California Public Employees Retirement System now owns 304,096 shares of the real estate investment trust’s stock worth $58,438,000 after buying an additional 13,700 shares during the period. Finally, Cibc World Markets Corp lifted its position in shares of AvalonBay Communities by 35.7% during the 2nd quarter. Cibc World Markets Corp now owns 19,467 shares of the real estate investment trust’s stock worth $3,741,000 after buying an additional 5,117 shares during the period. Institutional investors own 95.21% 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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