AvalonBay Communities (NYSE:AVB) Price Target Lowered to $203.00 at Truist Financial

AvalonBay Communities (NYSE:AVB) had its price objective reduced by Truist Financial from $205.00 to $203.00 in a research report sent to investors on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada lowered their price target on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research 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 price target on the stock. BNP Paribas Exane downgraded shares of AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Scotiabank dropped their target price on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Finally, Evercore ISI reiterated an “in-line” rating and set a $214.00 price target on shares of AvalonBay Communities in a report on Monday, November 3rd. Six research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $203.50.

AvalonBay Communities Price Performance

Shares of AVB opened at $178.26 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. AvalonBay Communities has a twelve month low of $166.73 and a twelve month high of $230.21. The stock has a market capitalization of $25.24 billion, a P/E ratio of 21.77, a P/E/G ratio of 3.10 and a beta of 0.75. The company has a 50 day moving average of $180.03 and a 200-day moving average of $187.06.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) 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 9.72%. The business had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. During the same quarter in the previous year, the firm posted $2.74 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $1.75 per share. The ex-dividend date was Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities’s dividend payout ratio (DPR) is 85.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advocate Group LLC lifted its position in AvalonBay Communities by 19.8% during the fourth quarter. Advocate Group LLC now owns 26,625 shares of the real estate investment trust’s stock worth $4,827,000 after purchasing an additional 4,409 shares during the period. Savvy Advisors Inc. raised its position in shares of AvalonBay Communities by 8.7% in the 4th quarter. Savvy Advisors Inc. now owns 7,858 shares of the real estate investment trust’s stock valued at $1,425,000 after buying an additional 626 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of AvalonBay Communities by 23.2% during the 4th quarter. Perpetual Ltd now owns 12,089 shares of the real estate investment trust’s stock worth $2,192,000 after acquiring an additional 2,280 shares during the period. First American Bank bought a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $1,042,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $315,000. 92.61% of the stock is owned by institutional investors and hedge funds.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.