AvalonBay Communities (NYSE:AVB) Given New $207.00 Price Target at Evercore ISI

AvalonBay Communities (NYSE:AVBFree Report) had its price objective upped by Evercore ISI from $205.00 to $207.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada raised their price objective on AvalonBay Communities from $191.00 to $196.00 and gave the company a sector perform rating in a research note on Monday, April 29th. Piper Sandler raised their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the company an overweight rating in a research note on Monday, April 29th. Scotiabank raised their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the company a sector perform rating in a research note on Tuesday, May 14th. Morgan Stanley increased their target price on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an overweight rating in a report on Tuesday, May 14th. Finally, Barclays increased their target price on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an overweight rating in a report on Monday, April 29th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, AvalonBay Communities has a consensus rating of Hold and a consensus target price of $207.17.

Check Out Our Latest Report on AVB

AvalonBay Communities Stock Up 0.4 %

AVB opened at $203.86 on Tuesday. The stock has a market cap of $28.99 billion, a PE ratio of 30.34, a P/E/G ratio of 2.96 and a beta of 0.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a 52 week low of $160.45 and a 52 week high of $208.45. The business’s fifty day simple moving average is $198.55 and its 200 day simple moving average is $187.62.

AvalonBay Communities (NYSE:AVBGet Free Report) last released its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The firm had revenue of $712.86 million during the quarter, compared to the consensus estimate of $706.61 million. During the same period in the prior year, the company earned $2.57 EPS. As a group, research analysts expect that AvalonBay Communities will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s dividend payout ratio is 101.19%.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SVB Wealth LLC increased its stake in shares of AvalonBay Communities by 1.1% during the first quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after purchasing an additional 62 shares in the last quarter. West Coast Financial LLC increased its stake in shares of AvalonBay Communities by 3.9% during the first quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 65 shares in the last quarter. First Affirmative Financial Network increased its stake in shares of AvalonBay Communities by 4.8% during the fourth quarter. First Affirmative Financial Network now owns 1,494 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 69 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of AvalonBay Communities by 1.1% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 6,361 shares of the real estate investment trust’s stock valued at $1,180,000 after purchasing an additional 69 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

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As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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