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

Key Points

• Analysts maintain a “Hold” consensus on AvalonBay Communities, with 15 hold ratings and three buys among 18 analysts. The average 12-month price target is $196.80, modestly above the stock’s $189.53 opening price.
• AvalonBay reported quarterly EPS of $1.11, missing the $1.23 consensus estimate, although revenue of $777.77 million exceeded expectations. Analysts project full-year EPS of $11.28.
• The REIT paid a quarterly dividend of $1.78 per share, equivalent to an annualized $7.12 dividend and a 3.8% yield; institutional investors own 92.61% of the company.

Shares of AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) have received a consensus recommendation of "Hold" from the eighteen analysts that are covering the stock, Marketbeat reports. Fifteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $196.80.

A number of brokerages have recently issued reports on AVB. Scotiabank raised their target price on shares of AvalonBay Communities from $187.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 9th. Barclays reiterated an "equal weight" rating and issued a $205.00 price target (up from $203.00) on shares of AvalonBay Communities in a research report on Tuesday, July 14th. UBS Group decreased their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a "neutral" rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada raised their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald lifted their price objective on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, May 4th.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tema ETFs LLC raised its stake in AvalonBay Communities by 7.6% during the 2nd quarter. Tema ETFs LLC now owns 2,065 shares of the real estate investment trust's stock valued at $390,000 after acquiring an additional 145 shares during the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of AvalonBay Communities by 60.6% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 6,940 shares of the real estate investment trust's stock valued at $1,310,000 after purchasing an additional 2,620 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of AvalonBay Communities by 41.1% in the second quarter. Handelsbanken Fonder AB now owns 110,350 shares of the real estate investment trust's stock valued at $20,822,000 after purchasing an additional 32,137 shares during the period. Legacy Wealth Asset Management LLC acquired a new position in shares of AvalonBay Communities in the second quarter valued at approximately $235,000. Finally, Everhart Financial Group Inc. acquired a new position in shares of AvalonBay Communities in the second quarter valued at approximately $238,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Down 0.0%

AvalonBay Communities stock opened at $189.53 on Monday. The company has a market capitalization of $26.92 billion, a P/E ratio of 27.47, a PEG ratio of 3.30 and a beta of 0.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.62. AvalonBay Communities has a fifty-two week low of $160.10 and a fifty-two week high of $203.29. The stock has a 50-day simple moving average of $187.49 and a 200-day simple moving average of $179.43.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million for the quarter, compared to analysts' expectations of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same quarter in the prior year, the business earned $2.82 EPS. Equities research analysts expect that AvalonBay Communities will post 11.28 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued 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 3.8%. AvalonBay Communities's dividend payout ratio (DPR) is currently 103.19%.

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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