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

AvalonBay Communities, Inc. (NYSE:AVB) has earned a consensus recommendation of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. Fifteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $196.80.

A number of brokerages recently commented on AVB. Cantor Fitzgerald raised their price objective on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Piper Sandler boosted their target price on AvalonBay Communities from $195.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Wells Fargo & Company cut their target price on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. UBS Group reduced their price target on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, Weiss Ratings raised AvalonBay Communities from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors and hedge funds have recently made changes to their positions in AVB. Reflection Asset Management acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $25,000. Clearstead Trust LLC grew its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares during the period. Zions Bancorporation National Association UT grew its position in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the period. BOKF NA purchased a new position in AvalonBay Communities in the third quarter valued at about $31,000. Finally, Elyxium Wealth LLC purchased a new position in AvalonBay Communities in the fourth quarter valued at about $32,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 0.0%

Shares of AvalonBay Communities stock opened at $189.53 on Monday. AvalonBay Communities has a one year low of $160.10 and a one year high of $203.29. The company has a market cap of $26.92 billion, a P/E ratio of 27.47, a PEG ratio of 3.30 and a beta of 0.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a fifty day moving average of $187.49 and a two-hundred day moving average of $179.43.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.12). AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. The firm had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. During the same period in the previous year, the firm earned $2.82 EPS. On average, analysts forecast that AvalonBay Communities will post 11.28 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. AvalonBay Communities’s payout ratio is presently 103.19%.

About AvalonBay Communities

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.