AvalonBay Communities (NYSE:AVB) PT Set at $231.00 by Evercore ISI

Evercore ISI set a $231.00 price target on AvalonBay Communities (NYSE:AVBGet Rating) in a report published on Monday, Stock Target Advisor reports.

Other research analysts have also issued reports about the company. Truist Financial lowered their price objective on AvalonBay Communities from $266.00 to $263.00 and set a hold rating for the company in a research report on Monday, March 7th. Piper Sandler reduced their target price on AvalonBay Communities from $265.00 to $240.00 in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft reduced their target price on AvalonBay Communities from $285.00 to $272.00 and set a buy rating for the company in a research note on Thursday, March 24th. Barclays reduced their target price on AvalonBay Communities from $263.00 to $229.00 in a research note on Tuesday, May 10th. Finally, Morgan Stanley reduced their target price on AvalonBay Communities from $247.00 to $225.00 and set an overweight rating for the company in a research note on Wednesday, May 25th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $254.71.

Shares of NYSE:AVB opened at $196.49 on Monday. The firm has a market cap of $27.47 billion, a P/E ratio of 24.44, a P/E/G ratio of 3.23 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.73. AvalonBay Communities has a 12-month low of $183.35 and a 12-month high of $259.05. The business has a fifty day simple moving average of $212.02 and a 200 day simple moving average of $233.74.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $1.59 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 3.24%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 79.10%.

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of AvalonBay Communities by 2.7% in the 1st quarter. Bank of America Corp DE now owns 639,950 shares of the real estate investment trust’s stock worth $158,945,000 after purchasing an additional 16,808 shares during the period. Advisory Services Network LLC raised its holdings in AvalonBay Communities by 36.8% during the 1st quarter. Advisory Services Network LLC now owns 2,253 shares of the real estate investment trust’s stock valued at $559,000 after acquiring an additional 606 shares during the period. Neuberger Berman Group LLC raised its holdings in AvalonBay Communities by 25.0% during the 1st quarter. Neuberger Berman Group LLC now owns 8,716 shares of the real estate investment trust’s stock valued at $2,164,000 after acquiring an additional 1,744 shares during the period. Toroso Investments LLC raised its holdings in AvalonBay Communities by 26.8% during the 1st quarter. Toroso Investments LLC now owns 9,352 shares of the real estate investment trust’s stock valued at $2,323,000 after acquiring an additional 1,978 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new stake in AvalonBay Communities during the 1st quarter valued at $333,000. 90.98% of the stock is currently owned by institutional investors.

AvalonBay Communities Company Profile (Get Rating)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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