AvalonBay Communities, Inc. (NYSE:AVB) announced a quarterly dividend on Thursday, May 18th, RTT News reports. Investors of record on Friday, June 30th will be paid a dividend of 1.42 per share by the real estate investment trust on Monday, July 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, June 28th.
AvalonBay Communities has increased its dividend payment by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 5 years. AvalonBay Communities has a payout ratio of 65.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AvalonBay Communities to earn $9.21 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 61.7%.
Shares of AvalonBay Communities (NYSE:AVB) opened at 194.295 on Tuesday. The company’s 50 day moving average price is $192.98 and its 200 day moving average price is $182.97. The stock has a market capitalization of $26.70 billion, a P/E ratio of 25.889 and a beta of 0.34. AvalonBay Communities has a one year low of $158.32 and a one year high of $199.52.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by $0.02. AvalonBay Communities had a net margin of 50.12% and a return on equity of 10.31%. The firm had revenue of $522.33 million for the quarter, compared to the consensus estimate of $520.56 million. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that AvalonBay Communities will post $5.19 earnings per share for the current year.
Several equities analysts recently issued reports on the company. Argus assumed coverage on AvalonBay Communities in a research note on Thursday, June 22nd. They set a “buy” rating and a $220.00 price target on the stock. BMO Capital Markets restated a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research note on Thursday, May 25th. Deutsche Bank AG lowered AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price target on the stock. in a research note on Wednesday, May 17th. BTIG Research boosted their price target on AvalonBay Communities from $191.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Finally, Jefferies Group LLC restated a “hold” rating and set a $196.00 price target on shares of AvalonBay Communities in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $195.00.
In related news, CEO Timothy J. Naughton sold 17,210 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $192.05, for a total transaction of $3,305,180.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Keri A. Shea sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $192.36, for a total value of $192,360.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,336 shares of company stock worth $8,123,261. Corporate insiders own 0.53% of the company’s stock.
About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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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