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

Shares of AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) have received a consensus recommendation of "Hold" from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $235.86.

Several research analysts have recently weighed in on the company. Wall Street Zen raised AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday. Truist Financial boosted their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Morgan Stanley boosted their price target on AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 15th. Mizuho dropped their price target on AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their price target on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research report on Tuesday, June 17th.

Insider Transactions at AvalonBay Communities

In other news, CFO Kevin P. O'shea sold 6,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the transaction, the chief financial officer now directly owns 22,782 shares in the company, valued at approximately $4,728,859.74. This represents a 20.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the transaction, the executive vice president now owns 17,617 shares of the company's stock, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

Hedge Funds Weigh In On AvalonBay Communities

Hedge funds have recently modified their holdings of the business. Proathlete Wealth Management LLC acquired a new position in AvalonBay Communities during the 1st quarter worth about $29,000. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities during the 1st quarter worth about $33,000. Ancora Advisors LLC lifted its stake in AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 150 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities during the 4th quarter worth about $36,000. Finally, Crowley Wealth Management Inc. acquired a new position in AvalonBay Communities during the 4th quarter worth about $44,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Up 0.2%

Shares of AVB stock opened at $206.92 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $29.46 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 2.82 and a beta of 0.86. The stock has a 50 day simple moving average of $205.36 and a 200-day simple moving average of $212.43. AvalonBay Communities has a 1-year low of $180.40 and a 1-year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.03. The business had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. AvalonBay Communities had a return on equity of 9.65% and a net margin of 38.86%. During the same period in the prior year, the company posted $2.70 EPS. On average, equities research analysts expect that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, June 30th. AvalonBay Communities's payout ratio is currently 87.17%.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.

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