AvalonBay Communities (NYSE:AVB) had its price target lowered by Morgan Stanley from $185.00 to $168.00 in a research report report published on Thursday. The firm currently has an equal weight rating on the real estate investment trust’s stock.
Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their price objective on AvalonBay Communities from $185.00 to $180.00 and set a buy rating for the company in a report on Monday, April 30th. Robert W. Baird set a $178.00 price objective on AvalonBay Communities and gave the stock a buy rating in a report on Friday, March 2nd. Argus dropped their price objective on AvalonBay Communities from $210.00 to $190.00 and set a buy rating for the company in a report on Thursday, March 1st. Citigroup upgraded AvalonBay Communities from a neutral rating to a buy rating and set a $190.00 price objective for the company in a report on Friday, April 6th. Finally, BTIG Research dropped their price objective on AvalonBay Communities to $189.00 and set a buy rating for the company in a report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $189.32.
AVB stock traded up $1.11 during trading on Thursday, hitting $169.29. 5,419 shares of the company traded hands, compared to its average volume of 699,179. The stock has a market capitalization of $23.02 billion, a PE ratio of 19.51, a P/E/G ratio of 2.53 and a beta of 0.36. AvalonBay Communities has a 1 year low of $152.65 and a 1 year high of $197.76. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.75 and a quick ratio of 0.75.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($1.16). AvalonBay Communities had a return on equity of 7.57% and a net margin of 35.62%. The business had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $556.23 million. During the same quarter last year, the business posted $2.09 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. analysts anticipate that AvalonBay Communities will post 8.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, June 28th. AvalonBay Communities’s payout ratio is presently 68.21%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AVB. Teacher Retirement System of Texas lifted its stake in shares of AvalonBay Communities by 39.9% in the 4th quarter. Teacher Retirement System of Texas now owns 37,882 shares of the real estate investment trust’s stock valued at $6,759,000 after purchasing an additional 10,806 shares during the period. M&T Bank Corp lifted its stake in shares of AvalonBay Communities by 8.1% in the 4th quarter. M&T Bank Corp now owns 13,917 shares of the real estate investment trust’s stock valued at $2,484,000 after purchasing an additional 1,039 shares during the period. First Trust Advisors LP increased its position in AvalonBay Communities by 4.3% during the 4th quarter. First Trust Advisors LP now owns 175,626 shares of the real estate investment trust’s stock valued at $31,333,000 after buying an additional 7,188 shares in the last quarter. Toronto Dominion Bank increased its position in AvalonBay Communities by 13.6% during the 4th quarter. Toronto Dominion Bank now owns 59,481 shares of the real estate investment trust’s stock valued at $10,612,000 after buying an additional 7,116 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in AvalonBay Communities by 17.9% during the 4th quarter. Global X Management Co. LLC now owns 4,009 shares of the real estate investment trust’s stock valued at $715,000 after buying an additional 608 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.
AvalonBay Communities Company Profile
As of December 31, 2017, the Company owned or held a direct or indirect ownership interest in 288 apartment communities containing 84,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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