AvalonBay Communities, Inc. (AVB) Receives Consensus Rating of “Hold” from Analysts
Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been assigned an average recommendation of “Hold” from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $196.00.
A number of brokerages have recently commented on AVB. Stifel Nicolaus reaffirmed a “buy” rating and issued a $209.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective for the company in a research report on Monday, September 25th. KeyCorp reaffirmed a “hold” rating on shares of AvalonBay Communities in a research report on Sunday, September 24th. Goldman Sachs Group, Inc. (The) downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price objective for the company. in a research report on Tuesday, September 5th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $202.00 price objective on shares of AvalonBay Communities in a research report on Friday, September 1st.
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Shares of AvalonBay Communities (AVB) traded up 0.33% during trading on Friday, hitting $181.19. The stock had a trading volume of 722,661 shares. The company has a market cap of $24.95 billion, a PE ratio of 24.95 and a beta of 0.36. The stock’s 50 day moving average is $181.42 and its 200-day moving average is $188.28. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $199.52.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.14 by ($0.05). The business had revenue of $530.51 million during the quarter, compared to analysts’ expectations of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same period in the prior year, the firm earned $2.03 EPS. Analysts forecast that AvalonBay Communities will post $5.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Thursday, September 28th. AvalonBay Communities’s dividend payout ratio is presently 78.13%.
Institutional investors and hedge funds have recently modified their holdings of the business. Ffcm LLC lifted its stake in shares of AvalonBay Communities by 6.6% during the second quarter. Ffcm LLC now owns 10,736 shares of the real estate investment trust’s stock worth $2,064,000 after purchasing an additional 667 shares in the last quarter. AXA lifted its stake in shares of AvalonBay Communities by 7.7% during the second quarter. AXA now owns 111,799 shares of the real estate investment trust’s stock worth $21,485,000 after purchasing an additional 7,981 shares in the last quarter. IBM Retirement Fund lifted its stake in shares of AvalonBay Communities by 120.1% during the second quarter. IBM Retirement Fund now owns 3,374 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 1,841 shares in the last quarter. Swiss National Bank lifted its stake in shares of AvalonBay Communities by 2.0% during the second quarter. Swiss National Bank now owns 849,580 shares of the real estate investment trust’s stock worth $163,264,000 after purchasing an additional 16,400 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its stake in shares of AvalonBay Communities by 0.4% during the second quarter. State Treasurer State of Michigan now owns 45,323 shares of the real estate investment trust’s stock worth $8,710,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 97.50% of the company’s stock.
About AvalonBay Communities
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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