AvalonBay Communities Given New $140.00 Price Target at Cowen and Company (AVB)
Equities researchers at Cowen and Company decreased their target price on shares of AvalonBay Communities (NYSE:AVB) from $149.00 to $140.00 in a research report issued on Thursday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price would suggest a potential upside of 8.19% from the stock’s previous close.
Shares of AvalonBay Communities (NYSE:AVB) traded down 0.42% on Thursday, hitting $129.40. 583,074 shares of the company’s stock traded hands. AvalonBay Communities has a one year low of $121.33 and a one year high of $143.18. The stock’s 50-day moving average is $129.2 and its 200-day moving average is $131.8. The company has a market cap of $16.745 billion and a P/E ratio of 45.48.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.11. During the same quarter in the previous year, the company posted $1.34 earnings per share. Analysts expect that AvalonBay Communities will post $5.17 EPS for the current fiscal year.
A number of other firms have also recently commented on AVB. Analysts at Zacks reiterated a “neutral” rating on shares of AvalonBay Communities (NYSE:AVB) in a research note to investors on Wednesday, August 14th. They now have a $136.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of AvalonBay Communities (NYSE:AVB) from $154.00 to $160.00 in a research note to investors on Tuesday, July 30th. They now have an “outperform” rating on the stock. Finally, analysts at Compass Point raised their price target on shares of AvalonBay Communities (NYSE:AVB) from $138.00 to $143.00 in a research note to investors on Monday, July 29th.
Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. AvalonBay Communities has an average rating of “Hold” and an average price target of $145.92.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, September 26th.
In other AvalonBay Communities news, Director Lance Primis bought 2,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was purchased at an average cost of $124.43 per share, for a total transaction of $248,860.00. Following the completion of the acquisition, the director now directly owns 13,421 shares of the company’s stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
AvalonBay Communities, Inc is a real estate investment trust (NYSE:AVB) .
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