AvalonBay Communities (NYSE:AVB) Downgraded to Hold Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of AvalonBay Communities (NYSE:AVB) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $172.00 price target on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. UBS Group lowered their price target on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Cantor Fitzgerald assumed coverage on AvalonBay Communities in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $205.00 price objective for the company. Mizuho reduced their target price on AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Finally, Scotiabank dropped their price target on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Six equities 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 a consensus price target of $203.50.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $178.26 on Tuesday. The stock has a market capitalization of $25.24 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75. AvalonBay Communities has a 52 week low of $166.73 and a 52 week high of $230.21. The stock has a 50 day moving average price of $180.03 and a 200 day moving average price of $187.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 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 company had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. During the same period in the previous year, the company posted $2.74 EPS. Analysts predict that AvalonBay Communities will post 11.48 earnings per share 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 issued a dividend of $1.75 per share. The ex-dividend date of this dividend 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 currently 85.47%.

Hedge Funds Weigh In On AvalonBay Communities

Several institutional investors and hedge funds have recently modified their holdings of AVB. Vanguard Group Inc. boosted its holdings in AvalonBay Communities by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock valued at $4,639,876,000 after purchasing an additional 127,693 shares during the period. State Street Corp increased its holdings in shares of AvalonBay Communities by 1.0% during the third quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock worth $1,858,788,000 after purchasing an additional 92,467 shares during the period. Norges Bank acquired a new stake in shares of AvalonBay Communities in the second quarter valued at approximately $1,394,225,000. JPMorgan Chase & Co. raised its position in shares of AvalonBay Communities by 6.3% in the third quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock valued at $814,376,000 after buying an additional 249,171 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of AvalonBay Communities by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock valued at $785,551,000 after buying an additional 57,599 shares during the period. 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.