AvalonBay Communities, Inc. (NYSE:AVB) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts give AvalonBay a consensus "Hold" rating from 18 firms (13 hold, 5 buy) with an average 12‑month price target of $198.75 and several recent price-target cuts from banks like Deutsche Bank and Barclays.
• AvalonBay raised its quarterly dividend to $1.78 (annualized $7.12), producing a 4.4% yield with an ex-dividend/record date of March 31 and a dividend payout ratio of about 85.5%.
• Shares opened near $163, trading well below the 52‑week high of $217.32; the company has a market cap of $22.8B, a PE of ~19.9, and reported a slight EPS beat of $2.85 for the most recent quarter.

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) has been given a consensus recommendation of "Hold" by the eighteen research firms that are covering the company, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $198.75.

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a "buy" rating to a "hold" rating and set a $172.00 price objective on the stock. in a report on Tuesday, January 20th. Truist Financial dropped their price target on AvalonBay Communities from $203.00 to $201.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Scotiabank reduced their price objective on AvalonBay Communities from $193.00 to $190.00 and set a "sector perform" rating for the company in a research report on Wednesday, March 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of AvalonBay Communities in a report on Friday, January 9th. Finally, Barclays dropped their target price on AvalonBay Communities from $217.00 to $202.00 and set an "overweight" rating on the stock in a research report on Friday, March 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AVB. Reflection Asset Management bought a new stake in AvalonBay Communities during the 4th quarter worth about $25,000. Zions Bancorporation National Association UT grew its holdings in shares of AvalonBay Communities by 300.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. Mather Group LLC. bought a new position in shares of AvalonBay Communities in the 3rd quarter valued at about $30,000. BOKF NA acquired a new stake in shares of AvalonBay Communities in the third quarter valued at about $31,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $32,000. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of AVB opened at $163.06 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day simple moving average of $175.46 and a 200 day simple moving average of $180.90. AvalonBay Communities has a 52-week low of $160.72 and a 52-week high of $217.32. The firm has a market capitalization of $22.84 billion, a PE ratio of 19.91, a P/E/G ratio of 2.83 and a beta of 0.75.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The business had revenue of $767.86 million during the quarter, compared to analysts' expectations of $766.38 million. During the same period in the prior year, the business earned $2.80 EPS. Sell-side analysts predict that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, March 31st. AvalonBay Communities's dividend payout ratio is 85.47%.

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.

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