AvalonBay Communities, Inc. (NYSE:AVB) Given Average Recommendation of “Hold” by Brokerages

AvalonBay Communities, Inc. (NYSE:AVB) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Fourteen research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $195.1333.

AVB has been the subject of a number of research reports. Cantor Fitzgerald increased their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. UBS Group reduced their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Wells Fargo & Company cut their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Morgan Stanley restated an “equal weight” rating and issued a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

AvalonBay Communities Trading Up 0.9%

Shares of AVB stock opened at $190.39 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 3.29 and a beta of 0.77. AvalonBay Communities has a 52-week low of $160.10 and a 52-week high of $205.00. The company has a 50-day simple moving average of $183.81 and a two-hundred day simple moving average of $178.12.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.47). The business had revenue of $770.28 million for the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same period in the prior year, the business earned $2.83 earnings per share. Research analysts anticipate that AvalonBay Communities will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, June 30th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. AvalonBay Communities’s dividend payout ratio (DPR) is 103.19%.

Institutional Investors Weigh In On AvalonBay Communities

Several hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of AvalonBay Communities by 0.7% in the 1st quarter. Pacer Advisors Inc. now owns 16,278 shares of the real estate investment trust’s stock worth $2,659,000 after purchasing an additional 111 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of AvalonBay Communities by 46.2% during the 1st quarter. Empowered Funds LLC now owns 5,139 shares of the real estate investment trust’s stock valued at $839,000 after buying an additional 1,625 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of AvalonBay Communities by 23.3% during the 1st quarter. NewEdge Advisors LLC now owns 6,248 shares of the real estate investment trust’s stock valued at $1,021,000 after buying an additional 1,179 shares in the last quarter. Groupe la Francaise lifted its position in AvalonBay Communities by 22.2% in the 1st quarter. Groupe la Francaise now owns 32,072 shares of the real estate investment trust’s stock worth $5,239,000 after buying an additional 5,826 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in AvalonBay Communities in the 1st quarter worth approximately $55,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.