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

Key Points

• Analyst consensus is “Hold”: Fifteen of 18 analysts rate AvalonBay Communities a hold, while three recommend buying. The average 12-month price target is approximately $196.87.
• Quarterly earnings missed expectations: AvalonBay reported EPS of $1.11, below the $1.23 consensus, although revenue of $777.77 million exceeded estimates. Shares opened at $184.06, within a 12-month range of $160.10 to $198.63.
• Dividend and ownership: The REIT pays a quarterly dividend of $1.78 per share, equal to a 3.9% annualized yield, while institutional investors and hedge funds own 92.61% of the stock.

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) has been assigned an average rating of "Hold" from the eighteen analysts that are covering the firm, Marketbeat reports. Fifteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $196.8667.

AVB has been the topic of several recent research reports. Truist Financial raised their target price on shares of AvalonBay Communities from $201.00 to $202.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Wells Fargo & Company dropped their price target on shares of AvalonBay Communities from $193.00 to $191.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Jefferies Financial Group raised shares of AvalonBay Communities to a "hold" rating in a report on Wednesday, July 22nd. UBS Group dropped their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a "neutral" rating for the company in a research report on Thursday, May 14th. Finally, Scotiabank increased their price target on AvalonBay Communities from $187.00 to $195.00 and gave the company a "sector perform" rating in a research note on Thursday, July 9th.

AvalonBay Communities Stock Performance

AVB stock opened at $184.06 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. AvalonBay Communities has a twelve month low of $160.10 and a twelve month high of $198.63. The company has a market cap of $26.28 billion, a P/E ratio of 30.08, a PEG ratio of 2.98 and a beta of 0.76. The business has a fifty day moving average of $187.74 and a 200-day moving average of $180.40.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.12). The firm had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a net margin of 33.33% and a return on equity of 8.58%. During the same quarter in the prior year, the business earned $2.82 EPS. As a group, equities research analysts expect that AvalonBay Communities will post 11.33 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. AvalonBay Communities's payout ratio is 116.34%.

Hedge Funds Weigh In On AvalonBay Communities

Hedge funds have recently added to or reduced their stakes in the stock. Clearstead Trust LLC boosted its position in AvalonBay Communities by 56.0% during the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust's stock valued at $649,000 after acquiring an additional 60 shares during the period. Red Spruce Capital LLC increased its position in shares of AvalonBay Communities by 0.8% in the second quarter. Red Spruce Capital LLC now owns 7,985 shares of the real estate investment trust's stock valued at $1,507,000 after acquiring an additional 60 shares during the period. Keybank National Association OH raised its stake in shares of AvalonBay Communities by 2.6% during the fourth quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust's stock valued at $446,000 after acquiring an additional 62 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV raised its stake in shares of AvalonBay Communities by 1.4% during the first quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust's stock valued at $1,090,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

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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