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

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given an average rating of “Hold” by the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $203.50.

A number of brokerages recently weighed in on AVB. Evercore ISI restated an “in-line” rating and set a $214.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Wells Fargo & Company decreased their price target on shares of AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Scotiabank cut their price objective on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Truist Financial reduced their price objective on shares of AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th.

Institutional Investors Weigh In On AvalonBay Communities

A number of institutional investors and hedge funds have recently modified their holdings of AVB. Vanguard Group Inc. grew its holdings in AvalonBay Communities by 0.6% during the second quarter. Vanguard Group Inc. now owns 22,800,375 shares of the real estate investment trust’s stock worth $4,639,876,000 after acquiring an additional 127,693 shares during the period. State Street Corp lifted its position in shares of AvalonBay Communities by 1.0% during the 3rd quarter. State Street Corp now owns 9,537,966 shares of the real estate investment trust’s stock valued at $1,858,788,000 after buying an additional 92,467 shares in the last quarter. Norges Bank purchased a new position in AvalonBay Communities during the second quarter valued at $1,394,225,000. JPMorgan Chase & Co. lifted its stake in AvalonBay Communities by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,215,821 shares of the real estate investment trust’s stock valued at $814,376,000 after buying an additional 249,171 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of AvalonBay Communities by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,875,614 shares of the real estate investment trust’s stock valued at $785,551,000 after acquiring an additional 57,599 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $177.63 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. AvalonBay Communities has a twelve month low of $166.73 and a twelve month high of $230.21. The stock has a fifty day simple moving average of $179.84 and a two-hundred day simple moving average of $185.65. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 3.04 and a beta of 0.76.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Wednesday, December 31st. AvalonBay Communities’s payout ratio is presently 85.47%.

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.