AvalonBay Communities, Inc. (NYSE:AVB) - Stock analysts at KeyCorp lowered their FY2021 earnings per share (EPS) estimates for AvalonBay Communities in a report issued on Wednesday, October 14th. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will post earnings of $8.66 per share for the year, down from their prior estimate of $9.41.
Other equities research analysts also recently issued research reports about the company. UBS Group began coverage on AvalonBay Communities in a research report on Friday. They set a "neutral" rating and a $165.00 price objective for the company. Jefferies Financial Group lowered AvalonBay Communities from a "buy" rating to a "hold" rating and reduced their target price for the company from $174.00 to $152.00 in a report on Tuesday, October 13th. Zacks Investment Research upgraded AvalonBay Communities from a "sell" rating to a "hold" rating and set a $165.00 target price for the company in a report on Tuesday, August 25th. Truist reduced their target price on AvalonBay Communities from $189.00 to $183.00 in a report on Thursday, August 20th. Finally, Morgan Stanley increased their price objective on AvalonBay Communities from $143.00 to $150.00 and gave the stock an "equal weight" rating in a report on Thursday, August 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of "Hold" and a consensus target price of $181.13.
Shares of NYSE:AVB opened at $148.94 on Monday. AvalonBay Communities has a one year low of $118.17 and a one year high of $229.40. The stock has a fifty day moving average of $155.00 and a 200-day moving average of $155.68. The company has a market capitalization of $20.96 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 15.34 and a beta of 0.82. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.40 and a current ratio of 1.40. AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($1.04). AvalonBay Communities had a net margin of 33.32% and a return on equity of 7.21%. The company had revenue of $576.41 million for the quarter, compared to analyst estimates of $587.58 million. During the same quarter last year, the company posted $2.27 EPS.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Tuesday, September 29th. AvalonBay Communities's dividend payout ratio is currently 68.09%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Twin Tree Management LP bought a new position in AvalonBay Communities during the second quarter worth about $43,000. RMR Wealth Builders bought a new position in AvalonBay Communities during the second quarter worth about $55,000. Ellevest Inc. raised its stake in shares of AvalonBay Communities by 82.4% in the second quarter. Ellevest Inc. now owns 476 shares of the real estate investment trust's stock valued at $74,000 after acquiring an additional 215 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of AvalonBay Communities in the second quarter valued at approximately $77,000. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of AvalonBay Communities in the second quarter valued at approximately $80,000. Hedge funds and other institutional investors own 91.92% of the company's stock.
AvalonBay Communities Company Profile
As of June 30, 2020, the Company owned or held a direct or indirect ownership interest in 295 apartment communities containing 86,380 apartment homes in 11 states and the District of Columbia, of which 19 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").
Further Reading: How to Trade Using Analysts Ratings
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