AvalonBay Communities, Inc. (NYSE:AVB) Receives $205.89 Average PT from Analysts

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received a consensus recommendation of “Hold” from the eighteen analysts that are covering the stock, Marketbeat reports. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $205.8929.

Several research analysts have recently issued reports on AVB shares. Mizuho reduced their target price on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Wells Fargo & Company cut their price objective 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. Cantor Fitzgerald began coverage on shares of AvalonBay Communities in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $205.00 price objective on the stock. Evercore ISI reiterated an “in-line” rating and set a $214.00 target price on shares of AvalonBay Communities in a research report on Monday, November 3rd. Finally, Truist Financial reduced their price target on AvalonBay Communities from $218.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd.

Institutional Trading of AvalonBay Communities

A number of hedge funds have recently modified their holdings of AVB. Perpetual Ltd grew its holdings in AvalonBay Communities by 0.5% during the second quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock valued at $2,167,000 after purchasing an additional 50 shares during the period. CX Institutional grew its holdings in shares of AvalonBay Communities by 6.3% in the 2nd quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 58 shares during the period. Probity Advisors Inc. increased its position in shares of AvalonBay Communities by 2.7% in the 2nd quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock valued at $456,000 after buying an additional 60 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of AvalonBay Communities by 1.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after buying an additional 60 shares in the last quarter. Finally, PFG Investments LLC raised its stake in AvalonBay Communities by 4.4% during the 3rd quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 61 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Trading Down 1.2%

AVB stock opened at $179.11 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. AvalonBay Communities has a twelve month low of $166.73 and a twelve month high of $230.21. The company has a market cap of $25.36 billion, a P/E ratio of 21.87, a PEG ratio of 3.14 and a beta of 0.74. The business has a fifty day moving average of $180.21 and a 200-day moving average of $190.84.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.06). The firm had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. During the same quarter in the prior year, the business earned $2.74 EPS. As a group, equities research analysts expect that AvalonBay Communities will post 11.48 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, December 31st. AvalonBay Communities’s payout ratio is presently 85.47%.

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.