RBC Capital Markets restated their buy rating on shares of AvalonBay Communities, Inc. (NYSE:AVB) in a research report released on Monday. They currently have a $191.00 price target on the real estate investment trust’s stock.
AVB has been the subject of several other reports. Zacks Investment Research cut shares of AvalonBay Communities from a hold rating to a sell rating in a report on Tuesday, December 13th. Barclays PLC decreased their price objective on shares of AvalonBay Communities from $178.00 to $167.00 and set an equal weight rating for the company in a report on Monday, January 23rd. Zelman & Associates cut shares of AvalonBay Communities from a hold rating to a sell rating in a report on Monday. Bank of America Corporation cut shares of AvalonBay Communities from a buy rating to a neutral rating and set a $179.00 price objective for the company. in a report on Wednesday, November 23rd. Finally, Mizuho reissued a buy rating on shares of AvalonBay Communities in a report on Friday, December 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. AvalonBay Communities presently has an average rating of Hold and an average price target of $189.86.
Shares of AvalonBay Communities (NYSE:AVB) traded down 0.73% during mid-day trading on Monday, hitting $178.55. 884,272 shares of the company traded hands. The stock has a market capitalization of $24.52 billion, a PE ratio of 23.74 and a beta of 0.33. The firm’s 50 day moving average price is $175.91 and its 200-day moving average price is $173.36. AvalonBay Communities has a 1-year low of $158.32 and a 1-year high of $192.29.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 1st. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.94. The business earned $518.24 million during the quarter, compared to analysts’ expectations of $517.45 million. AvalonBay Communities had a net margin of 50.56% and a return on equity of 10.36%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.99 earnings per share. On average, equities research analysts forecast that AvalonBay Communities will post $4.67 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a $1.42 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.35. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Wednesday, March 29th. AvalonBay Communities’s dividend payout ratio is presently 71.81%.
Several institutional investors have recently modified their holdings of AVB. IFP Advisors Inc raised its position in shares of AvalonBay Communities by 0.3% in the second quarter. IFP Advisors Inc now owns 1,006 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 3 shares in the last quarter. CAPROCK Group Inc. raised its position in shares of AvalonBay Communities by 0.7% in the second quarter. CAPROCK Group Inc. now owns 3,128 shares of the real estate investment trust’s stock worth $564,000 after buying an additional 22 shares in the last quarter. 1st Global Advisors Inc. raised its position in shares of AvalonBay Communities by 0.4% in the third quarter. 1st Global Advisors Inc. now owns 6,260 shares of the real estate investment trust’s stock worth $1,113,000 after buying an additional 26 shares in the last quarter. Conning Inc. raised its position in shares of AvalonBay Communities by 0.7% in the third quarter. Conning Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $763,000 after buying an additional 30 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of AvalonBay Communities by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,872 shares of the real estate investment trust’s stock worth $1,395,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust. The Company focuses 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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