AvalonBay Communities, Inc. (NYSE:AVB) Receives Average Rating of "Hold" from Brokerages

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) has been given an average rating of "Hold" by the fifteen analysts that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $238.57.

Several research firms have weighed in on AVB. Piper Sandler lowered their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Evercore ISI lifted their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Royal Bank of Canada upped their target price on AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. Finally, Barclays raised their price target on AvalonBay Communities from $226.00 to $227.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th.

AvalonBay Communities Stock Down 0.9 %

Shares of AVB traded down $1.99 during midday trading on Friday, hitting $210.21. The company had a trading volume of 708,992 shares, compared to its average volume of 693,328. The stock has a market cap of $29.93 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 3.11 and a beta of 0.86. The company's 50 day moving average price is $208.72 and its 200 day moving average price is $218.10. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a 52 week low of $180.40 and a 52 week high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.03. The firm had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same period in the previous year, the company earned $2.70 earnings per share. On average, equities research analysts predict that AvalonBay Communities will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 3.33%. This is an increase from AvalonBay Communities's previous quarterly dividend of $1.70. The ex-dividend date was Monday, March 31st. AvalonBay Communities's dividend payout ratio is 87.17%.

Hedge Funds Weigh In On AvalonBay Communities

Several hedge funds have recently modified their holdings of AVB. Norges Bank acquired a new position in AvalonBay Communities during the fourth quarter worth about $1,499,050,000. Price T Rowe Associates Inc. MD grew its stake in shares of AvalonBay Communities by 35.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock worth $1,133,328,000 after purchasing an additional 1,336,698 shares during the last quarter. Northern Trust Corp raised its holdings in shares of AvalonBay Communities by 54.8% in the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust's stock worth $581,324,000 after purchasing an additional 935,770 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of AvalonBay Communities by 49.9% in the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after purchasing an additional 828,009 shares in the last quarter. Finally, Cohen & Steers Inc. lifted its stake in AvalonBay Communities by 25.7% during the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock valued at $688,527,000 after purchasing an additional 639,402 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile

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.