AvalonBay Communities, Inc. (NYSE:AVB) Receives Average Rating of “Hold” from Analysts

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, Marketbeat reports. Twelve analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $209.3462.

A number of brokerages have commented on AVB. Evercore ISI reiterated an “in-line” rating and issued a $214.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 3rd. Mizuho reiterated a “neutral” rating and set a $199.00 price target (down previously from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Scotiabank reduced their price objective on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Cantor Fitzgerald assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 target price on the stock. Finally, Truist Financial raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and dropped their price target for the stock from $224.00 to $218.00 in a research report on Thursday, September 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. Teachers Retirement System of The State of Kentucky increased its position in shares of AvalonBay Communities by 2.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,869 shares of the real estate investment trust’s stock worth $2,333,000 after purchasing an additional 283 shares in the last quarter. Wealth Alliance LLC increased its holdings in shares of AvalonBay Communities by 7.4% during the first quarter. Wealth Alliance LLC now owns 1,631 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 112 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in shares of AvalonBay Communities by 20.4% in the first quarter. HighPoint Advisor Group LLC now owns 2,383 shares of the real estate investment trust’s stock valued at $494,000 after acquiring an additional 403 shares during the last quarter. Guidance Capital Inc. grew its position in AvalonBay Communities by 6.7% during the 1st quarter. Guidance Capital Inc. now owns 4,645 shares of the real estate investment trust’s stock worth $986,000 after acquiring an additional 293 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in AvalonBay Communities by 244.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 13,992 shares of the real estate investment trust’s stock valued at $3,003,000 after purchasing an additional 9,931 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Price Performance

NYSE:AVB opened at $177.40 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities has a one year low of $166.73 and a one year high of $239.29. The company has a fifty day moving average price of $185.97 and a 200 day moving average price of $194.90. The stock has a market cap of $25.12 billion, a P/E ratio of 21.66, a PEG ratio of 2.54 and a beta of 0.84.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. The company had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. During the same quarter in the previous year, the business posted $2.74 EPS. Analysts anticipate that AvalonBay Communities will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Tuesday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 85.47%.

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.