AvalonBay Communities Inc (NYSE:AVB) announced a quarterly dividend on Wednesday, September 16th, RTT News reports. Shareholders of record on Wednesday, September 30th will be paid a dividend of 1.59 per share by the real estate investment trust on Thursday, October 15th. This represents a $6.36 annualized dividend and a yield of 4.15%.
AvalonBay Communities has raised its dividend payment by 12.6% over the last three years and has raised its dividend every year for the last 8 years.
Shares of NYSE:AVB traded up $0.52 on Wednesday, reaching $153.09. The company’s stock had a trading volume of 966,750 shares, compared to its average volume of 1,097,180. The company has a 50-day simple moving average of $154.57 and a 200 day simple moving average of $161.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.40 and a current ratio of 1.40. AvalonBay Communities has a 52-week low of $118.17 and a 52-week high of $229.40. The company has a market cap of $21.47 billion, a P/E ratio of 27.45, a PEG ratio of 10.81 and a beta of 0.78.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.04). AvalonBay Communities had a net margin of 33.32% and a return on equity of 7.21%. The business had revenue of $576.41 million for the quarter, compared to the consensus estimate of $587.58 million. During the same period in the prior year, the company posted $2.27 EPS. On average, equities research analysts forecast that AvalonBay Communities will post 9.05 EPS for the current fiscal year.
AVB has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $174.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, August 11th. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating and set a $165.00 target price for the company in a research note on Tuesday, August 25th. Truist decreased their target price on AvalonBay Communities from $189.00 to $183.00 in a research report on Thursday, August 20th. Piper Sandler increased their target price on AvalonBay Communities from $140.00 to $145.00 and gave the company an “underweight” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley upped their price objective on shares of AvalonBay Communities from $143.00 to $150.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $187.60.
About AvalonBay Communities
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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