AvalonBay Communities, Inc. (NYSE:AVB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have earned an average rating of “Hold” from the seventeen ratings firms that are covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $207.7308.

Several research analysts have issued reports on the company. BNP Paribas cut AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Scotiabank cut their target price on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Royal Bank Of Canada decreased their price target on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Cantor Fitzgerald started coverage on AvalonBay Communities in a report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 price objective on the stock. Finally, Truist Financial upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating and decreased their target price for the stock from $224.00 to $218.00 in a report on Thursday, September 11th.

Institutional Investors Weigh In On AvalonBay Communities

Several hedge funds have recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in shares of AvalonBay Communities during the third quarter worth approximately $30,000. Clearstead Trust LLC raised its holdings in shares of AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 62 shares in the last quarter. BOKF NA purchased a new stake in shares of AvalonBay Communities during the third quarter worth $31,000. AlphaQuest LLC purchased a new position in AvalonBay Communities in the third quarter valued at about $33,000. Finally, Headlands Technologies LLC purchased a new position in AvalonBay Communities in the second quarter valued at about $36,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $181.62 on Wednesday. AvalonBay Communities has a twelve month low of $166.73 and a twelve month high of $239.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $184.49 and a two-hundred day moving average of $193.92. The company has a market capitalization of $25.72 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.54 and a beta of 0.84.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The business had revenue of $766.80 million during the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a return on equity of 9.75% and a net margin of 38.78%.During the same quarter in the previous year, the firm earned $2.74 earnings per share. As a group, analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

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

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.