Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) PT at $197.00

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given an average rating of “Hold” by the seventeen analysts that are covering the firm, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $197.00.

AVB has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their target price on AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, February 9th. UBS Group decreased their target price on AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lowered AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a report on Tuesday, January 20th. Scotiabank decreased their target price on AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a report on Wednesday, March 4th. Finally, Wall Street Zen lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, February 7th.

AvalonBay Communities Trading Up 1.3%

NYSE:AVB opened at $176.07 on Friday. The firm has a market cap of $24.49 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 3.05 and a beta of 0.75. The stock has a fifty day moving average price of $171.58 and a 200 day moving average price of $177.20. AvalonBay Communities has a 12-month low of $160.10 and a 12-month high of $213.34. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. The firm had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same period last year, the business posted $2.80 earnings per share. Sell-side analysts anticipate that AvalonBay Communities will post 11.29 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $1.78 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 86.94%.

Institutional Trading of AvalonBay Communities

A number of institutional investors have recently bought and sold shares of AVB. Reflection Asset Management purchased a new stake in AvalonBay Communities during the 4th quarter worth about $25,000. Zions Bancorporation National Association UT lifted its holdings in AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the last quarter. Mather Group LLC. purchased a new stake in AvalonBay Communities during the 3rd quarter worth about $30,000. BOKF NA purchased a new stake in AvalonBay Communities during the 3rd quarter worth about $31,000. Finally, Elyxium Wealth LLC purchased a new stake in AvalonBay Communities during the 4th quarter worth about $32,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

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.