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

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have earned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $196.78.

AVB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a research note on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price target for the company. Wolfe Research cut shares of AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Truist Financial decreased 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 note on Tuesday, April 9th. Piper Sandler reaffirmed an “overweight” rating and set a $207.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, March 26th. Finally, Mizuho decreased their target price on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $191.30 on Tuesday. The firm has a market cap of $27.20 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 3.51 and a beta of 0.92. The company’s fifty day simple moving average is $182.37 and its two-hundred day simple moving average is $178.52. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a 12-month low of $160.45 and a 12-month high of $198.65.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The business had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same quarter in the prior year, the firm earned $2.59 EPS. As a group, equities analysts expect that AvalonBay Communities will post 10.8 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.55%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio is currently 103.82%.

Insiders Place Their Bets

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

Institutional Trading of AvalonBay Communities

Several hedge funds have recently bought and sold shares of AVB. Pinnacle Bancorp Inc. bought a new stake in AvalonBay Communities in the third quarter worth $26,000. Byrne Asset Management LLC grew its position in 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 acquiring an additional 135 shares in the last quarter. Castleview Partners LLC increased its stake in AvalonBay Communities by 1,542.9% during the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 216 shares during the last quarter. Ronald Blue Trust Inc. raised its position in AvalonBay Communities by 316.7% during the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 171 shares during the period. Finally, Arlington Trust Co LLC purchased a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

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.