Piper Sandler Issues Positive Forecast for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price target raised by Piper Sandler from $195.00 to $210.00 in a report released on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank raised their target price on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Jefferies Financial Group raised shares of AvalonBay Communities to a “hold” rating in a report on Friday, June 26th. UBS Group reduced their target price on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Finally, Wells Fargo & Company cut their price target on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $196.80.

AvalonBay Communities Stock Down 0.6%

NYSE:AVB opened at $190.71 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $27.09 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The company has a 50-day moving average of $187.09 and a 200 day moving average of $179.23. AvalonBay Communities has a 1-year low of $160.10 and a 1-year high of $204.68.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). The business had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period in the previous year, the company posted $2.83 EPS. As a group, research analysts anticipate that AvalonBay Communities will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $1.78 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio is 103.19%.

Institutional Investors Weigh In On AvalonBay Communities

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tema ETFs LLC increased its holdings in shares of AvalonBay Communities by 7.6% during the 2nd quarter. Tema ETFs LLC now owns 2,065 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 145 shares during the last quarter. E. Ohman J or Asset Management AB boosted its stake in AvalonBay Communities by 60.6% during the second quarter. E. Ohman J or Asset Management AB now owns 6,940 shares of the real estate investment trust’s stock worth $1,310,000 after buying an additional 2,620 shares during the period. Handelsbanken Fonder AB increased its position in shares of AvalonBay Communities by 41.1% during the second quarter. Handelsbanken Fonder AB now owns 110,350 shares of the real estate investment trust’s stock valued at $20,822,000 after acquiring an additional 32,137 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in AvalonBay Communities in the 2nd quarter valued at approximately $235,000. Finally, Everhart Financial Group Inc. acquired a new position in AvalonBay Communities during the 2nd quarter worth about $238,000. 92.61% of the stock is currently 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.