AvalonBay Communities (NYSE:AVB) Given New $183.00 Price Target at Piper Sandler

AvalonBay Communities (NYSE:AVB) had its target price reduced by Piper Sandler from $190.00 to $183.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on AVB. Royal Bank Of Canada reduced their price objective on shares of AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research note on Friday. Colliers Securities reissued a “neutral” rating and set a $195.00 price target (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Friday, January 9th. UBS Group cut their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $201.10.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $173.22 on Monday. The firm has a market capitalization of $24.53 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76. AvalonBay Communities has a 12-month low of $166.73 and a 12-month high of $230.21. The firm has a 50-day moving average price of $178.97 and a 200-day moving average price of $184.44. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. The firm had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same period in the previous year, the firm earned $2.80 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 annualized dividend and a yield of 4.1%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s payout ratio is 94.85%.

Institutional Trading of AvalonBay Communities

Hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its position in AvalonBay Communities by 3.1% during the third quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust’s stock worth $41,754,000 after acquiring an additional 6,511 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of AvalonBay Communities by 13.8% in the second quarter. Metis Global Partners LLC now owns 36,980 shares of the real estate investment trust’s stock valued at $7,525,000 after purchasing an additional 4,473 shares during the last quarter. FORA Capital LLC lifted its position in AvalonBay Communities by 78.7% during the second quarter. FORA Capital LLC now owns 15,702 shares of the real estate investment trust’s stock worth $3,195,000 after buying an additional 6,916 shares in the last quarter. Amundi boosted its stake in AvalonBay Communities by 17.7% during the second quarter. Amundi now owns 449,348 shares of the real estate investment trust’s stock worth $90,768,000 after buying an additional 67,695 shares during the last quarter. Finally, Allstate Corp grew its holdings in AvalonBay Communities by 250.5% in the 3rd quarter. Allstate Corp now owns 8,152 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 5,826 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

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.