Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Target Price at $196.78

AvalonBay Communities, Inc. (NYSE:AVB) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $196.78.

A number of equities research analysts have recently issued reports on AVB shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Truist Financial reduced their price target on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a research report on Tuesday, April 9th. Piper Sandler reiterated an “overweight” rating and set a $207.00 price target on shares of AvalonBay Communities in a research report on Tuesday, March 26th. Mizuho reduced their price target on shares of AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $191.50 in a research report on Monday, February 26th.

Insiders Place Their Bets

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the sale, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in shares of AvalonBay Communities in the third quarter worth about $26,000. Byrne Asset Management LLC boosted its position in shares of AvalonBay Communities by 270.0% in the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 135 shares during the period. Ronald Blue Trust Inc. boosted its position in shares of AvalonBay Communities by 316.7% in the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 171 shares during the period. Castleview Partners LLC boosted its position in shares of AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 216 shares during the period. Finally, Arlington Trust Co LLC purchased a new stake in shares of AvalonBay Communities in the fourth quarter worth about $45,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $191.45 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. The company has a market cap of $27.22 billion, a P/E ratio of 28.49, a PEG ratio of 3.56 and a beta of 0.92. AvalonBay Communities has a 52 week low of $160.45 and a 52 week high of $198.65. The company has a 50-day moving average price of $182.66 and a 200 day moving average price of $178.67.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The firm had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.10%. During the same quarter in the previous year, the business earned $2.59 EPS. Research analysts predict that AvalonBay Communities will post 10.8 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $1.70 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a yield of 3.55%. The ex-dividend date was Wednesday, March 27th. AvalonBay Communities’s payout ratio is presently 101.19%.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.