AvalonBay Communities Inc. (NYSE:AVB) Receives Average Recommendation of “Hold” from Brokerages
Shares of AvalonBay Communities Inc. (NYSE:AVB) have been assigned an average rating of “Hold” from the nineteen research firms that are presently covering the firm. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $196.03.
Several research analysts have issued reports on AVB shares. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $188.00 target price on shares of AvalonBay Communities in a report on Monday, July 18th. BMO Capital Markets reaffirmed a “hold” rating and issued a $192.00 target price on shares of AvalonBay Communities in a report on Monday, July 25th. Jefferies Group reaffirmed a “hold” rating on shares of AvalonBay Communities in a report on Monday, August 1st. Zacks Investment Research raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Monday, July 18th. Finally, Evercore Partners Inc. reaffirmed a “hold” rating on shares of AvalonBay Communities in a report on Friday, July 15th.
In other AvalonBay Communities news, insider Matthew H. Birenbaum sold 6,984 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $185.00, for a total value of $1,292,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Sean J. Breslin sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $185.71, for a total transaction of $185,710.00. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
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Several institutional investors have recently bought and sold shares of the company. CIBC World Markets Inc. purchased a new position in AvalonBay Communities during the first quarter worth $1,040,000. IFP Advisors Inc increased its position in AvalonBay Communities by 24.8% in the first quarter. IFP Advisors Inc now owns 1,003 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 199 shares during the period. Virginia Retirement System bought a new position in AvalonBay Communities during the first quarter valued at approximately $43,487,000. Mn Services Vermogensbeheer B.V. bought a new position in AvalonBay Communities during the first quarter valued at approximately $571,000. Finally, Aperio Group LLC increased its position in AvalonBay Communities by 6.6% in the first quarter. Aperio Group LLC now owns 38,847 shares of the real estate investment trust’s stock valued at $7,389,000 after buying an additional 2,389 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.
Shares of AvalonBay Communities (NYSE:AVB) traded up 0.42% during mid-day trading on Tuesday, hitting $176.15. 256,016 shares of the company were exchanged. The company has a market capitalization of $24.19 billion, a P/E ratio of 30.22 and a beta of 0.72. The company has a 50 day moving average of $177.65 and a 200 day moving average of $180.65. AvalonBay Communities has a 52 week low of $160.66 and a 52 week high of $192.29.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by $0.10. AvalonBay Communities had a net margin of 43.34% and a return on equity of 8.10%. The business had revenue of $502.30 million for the quarter, compared to analysts’ expectations of $500.25 million. During the same period last year, the business earned $1.87 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Equities analysts anticipate that AvalonBay Communities will post $8.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. AvalonBay Communities’s payout ratio is currently 92.62%.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust. The Company focuses on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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