AvalonBay Communities Given Neutral Rating at Zacks (AVB)
AvalonBay Communities (NYSE:AVB)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday, American Banking and Market News reports. They currently have a $135.00 target price on the stock. Zacks‘ price objective indicates a potential upside of 4.12% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Compass Point cut their price target on shares of AvalonBay Communities from $134.00 to $132.00 in a research note on Monday, February 3rd. They now have a “neutral” rating on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of AvalonBay Communities from $145.00 to $138.00 in a research note on Monday, January 27th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 16th. They now have a $153.00 price target on the stock. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $142.17.
Shares of AvalonBay Communities (NYSE:AVB) traded up 0.51% during mid-day trading on Friday, hitting $128.99. The stock had a trading volume of 588,860 shares. AvalonBay Communities has a 52 week low of $114.16 and a 52 week high of $141.95. The stock’s 50-day moving average is $122.5 and its 200-day moving average is $124.9. The company has a market cap of $16.693 billion and a price-to-earnings ratio of 55.37.
AvalonBay Communities (NYSE:AVB) last released its earnings data on Wednesday, January 29th. The company reported $1.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.56 by $0.06. The company had revenue of $400.00 million for the quarter, compared to the consensus estimate of $393.41 million. During the same quarter last year, the company posted $1.27 earnings per share. AvalonBay Communities’s revenue was up 45.0% compared to the same quarter last year. Analysts expect that AvalonBay Communities will post $6.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.07.
AvalonBay Communities, Inc is a real estate investment trust (NYSE:AVB) .
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