AvalonBay Communities (NYSE:AVB) PT Lowered to $225.00

AvalonBay Communities (NYSE:AVBGet Rating) had its price target trimmed by Morgan Stanley from $247.00 to $225.00 in a research note released on Wednesday, Stock Target Advisor reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other research firms have also commented on AVB. Scotiabank lowered their price target on shares of AvalonBay Communities from $262.00 to $238.00 in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of AvalonBay Communities from $285.00 to $272.00 and set a buy rating for the company in a research report on Thursday, March 24th. StockNews.com began coverage on shares of AvalonBay Communities in a research report on Thursday, March 31st. They issued a hold rating for the company. Piper Sandler decreased their price objective on shares of AvalonBay Communities from $265.00 to $240.00 in a research report on Wednesday, May 4th. Finally, Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $251.00 to $260.00 and gave the stock a sector perform rating in a research report on Monday, February 7th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $258.06.

NYSE:AVB opened at $210.91 on Wednesday. AvalonBay Communities has a one year low of $197.62 and a one year high of $259.05. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $29.49 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.54 and a beta of 0.93. The firm’s fifty day moving average is $231.63 and its two-hundred day moving average is $239.56.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $1.59 per share. The ex-dividend date is Wednesday, June 29th. This represents a $6.36 annualized dividend and a yield of 3.02%. AvalonBay Communities’s dividend payout ratio is presently 79.10%.

Several institutional investors have recently bought and sold shares of AVB. Norges Bank purchased a new stake in shares of AvalonBay Communities in the 4th quarter valued at approximately $1,499,421,000. BlackRock Inc. grew its stake in shares of AvalonBay Communities by 6.3% in the 4th quarter. BlackRock Inc. now owns 15,215,579 shares of the real estate investment trust’s stock valued at $3,843,305,000 after buying an additional 898,161 shares during the period. Blackstone Inc. grew its stake in shares of AvalonBay Communities by 119.1% in the 1st quarter. Blackstone Inc. now owns 1,434,795 shares of the real estate investment trust’s stock valued at $356,360,000 after buying an additional 779,818 shares during the period. Wellington Management Group LLP grew its stake in shares of AvalonBay Communities by 57.1% in the 1st quarter. Wellington Management Group LLP now owns 2,140,014 shares of the real estate investment trust’s stock valued at $531,516,000 after buying an additional 777,631 shares during the period. Finally, State Street Corp grew its stake in shares of AvalonBay Communities by 7.6% in the 4th quarter. State Street Corp now owns 9,364,043 shares of the real estate investment trust’s stock valued at $2,379,927,000 after buying an additional 658,377 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile (Get Rating)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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