Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Target Price at $200.91

AvalonBay Communities, Inc. (NYSE:AVB) has received a consensus rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $200.5938.

Several equities research analysts have recently commented on the company. Cantor Fitzgerald upped their price target on AvalonBay Communities from $179.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Piper Sandler cut their price objective on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Truist Financial dropped their price target on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a research report on Tuesday, January 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AVB. Vanguard Group Inc. lifted its holdings in AvalonBay Communities by 0.6% in the second 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 acquiring an additional 127,693 shares during the period. State Street Corp increased its holdings in shares of AvalonBay Communities by 1.0% in the 3rd quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock valued at $1,858,788,000 after purchasing an additional 92,467 shares in the last quarter. Norges Bank acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $1,394,635,000. JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock worth $935,551,000 after buying an additional 944,129 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 9.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock worth $815,360,000 after buying an additional 383,983 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE AVB opened at $179.07 on Friday. The firm has a market cap of $25.08 billion, a P/E ratio of 21.86, a P/E/G ratio of 3.12 and a beta of 0.75. AvalonBay Communities has a 52-week low of $166.73 and a 52-week high of $223.25. The business’s 50-day moving average price is $178.35 and its 200 day moving average price is $182.94. The company has a quick ratio of 0.67, a current ratio of 0.77 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The company had revenue of $767.86 million during the quarter, compared to analysts’ expectations of $766.38 million. During the same period last year, the firm earned $2.80 EPS. On average, equities research analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. AvalonBay Communities’s payout ratio is 86.94%.

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.