AvalonBay Communities, Inc. (NYSE:AVB) Given Consensus Rating of “Hold” by Analysts
AvalonBay Communities, Inc. (NYSE:AVB) has earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $193.58.
AVB has been the topic of several recent research reports. JMP Securities lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. They noted that the move was a valuation call. Barclays PLC increased their price target on AvalonBay Communities from $174.00 to $188.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Evercore ISI decreased their price target on AvalonBay Communities from $188.00 to $186.00 and set an “in-line” rating on the stock in a report on Wednesday, April 19th. Jefferies Group LLC restated a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a report on Monday, April 24th. Finally, BTIG Research increased their price target on AvalonBay Communities from $191.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 24th.
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In other AvalonBay Communities news, SVP Keri A. Shea sold 1,000 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $192.36, for a total value of $192,360.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William M. Mclaughlin sold 5,112 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $193.88, for a total value of $991,114.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,876 shares of company stock worth $1,521,845. Insiders own 0.53% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Creative Planning raised its position in shares of AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 2 shares in the last quarter. Muzinich & Co. Inc. raised its position in shares of AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 339 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of AvalonBay Communities by 546.9% in the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 875 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in shares of AvalonBay Communities during the second quarter valued at approximately $201,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in shares of AvalonBay Communities during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.
Shares of AvalonBay Communities (NYSE:AVB) traded up 0.06% on Tuesday, hitting $188.55. 726,293 shares of the company traded hands. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 25.12 and a beta of 0.34. The firm’s 50 day moving average price is $191.07 and its 200-day moving average price is $186.62. AvalonBay Communities has a 1-year low of $158.32 and a 1-year high of $199.52.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by $0.05. The firm had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same quarter in the prior year, the company posted $2.03 earnings per share. On average, equities research analysts expect that AvalonBay Communities will post $5.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $1.42 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.01%. AvalonBay Communities’s payout ratio is 78.13%.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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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