AvalonBay Communities, Inc. (NYSE:AVB) Receives $239.29 Consensus Price Target from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received an average rating of “Hold” from the fifteen research firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $238.57.

A number of equities research analysts have recently weighed in on AVB shares. Evercore ISI boosted their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $236.00 to $223.00 in a report on Friday, January 24th. BMO Capital Markets cut AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 target price for the company. in a report on Friday, April 4th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Finally, Piper Sandler lowered their price objective on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday.

AvalonBay Communities Stock Performance

Shares of AVB opened at $210.21 on Friday. AvalonBay Communities has a 12-month low of $180.40 and a 12-month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market cap of $29.93 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The stock has a 50-day moving average price of $208.49 and a 200-day moving average price of $217.98.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.03. The business had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. During the same period in the previous year, the business posted $2.70 earnings per share. As a group, equities analysts forecast that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.33%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 87.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wedmont Private Capital increased its holdings in shares of AvalonBay Communities by 5.3% during the fourth quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 55 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of AvalonBay Communities by 1.8% in the first quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 58 shares in the last quarter. Golden State Equity Partners grew its holdings in shares of AvalonBay Communities by 3.7% during the first quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 60 shares during the last quarter. Signaturefd LLC increased its position in shares of AvalonBay Communities by 4.0% during the fourth quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 62 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of AvalonBay Communities by 2.6% in the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.