Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Price Target at $196.87

AvalonBay Communities, Inc. (NYSE:AVB) has been assigned a consensus rating of “Hold” from the eighteen brokerages that are covering the company, MarketBeat.com reports. Fifteen analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $196.8667.

A number of research firms have issued reports on AVB. UBS Group reduced their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Scotiabank boosted their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of AvalonBay Communities in a research note on Wednesday, August 19th. Wolfe Research raised shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a report on Monday, June 1st. Finally, Truist Financial lifted their price target on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently bought and sold shares of the business. Reflection Asset Management acquired a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $25,000. Clearstead Trust LLC grew its position in AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Zions Bancorporation National Association UT increased its stake in AvalonBay Communities by 300.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the period. BOKF NA acquired a new position in AvalonBay Communities in the 3rd quarter valued at $31,000. Finally, Elyxium Wealth LLC purchased a new position in AvalonBay Communities during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.06 on Friday. The company has a market capitalization of $26.28 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.54 and a current ratio of 0.54. AvalonBay Communities has a fifty-two week low of $160.10 and a fifty-two week high of $198.63. The firm has a 50 day moving average price of $187.89 and a 200 day moving average price of $180.75.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million during the quarter, compared to analyst estimates of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same period in the previous year, the firm posted $2.82 earnings per share. Research analysts expect that AvalonBay Communities will post 11.33 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 116.34%.

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.