As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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").
AvalonBay Communities Price Performance
Shares of AvalonBay Communities stock traded up $3.08 during trading on Friday, reaching $218.16. 343,653 shares of the stock traded hands, compared to its average volume of 667,011. The company has a market capitalization of $30.51 billion, a price-to-earnings ratio of 37.48, a P/E/G ratio of 3.61 and a beta of 0.93. The business has a fifty day simple moving average of $197.75 and a two-hundred day simple moving average of $221.66. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.78 and a quick ratio of 0.78. AvalonBay Communities has a 52-week low of $183.35 and a 52-week high of $259.05.
AvalonBay Communities (NYSE:AVB - Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.07. The firm had revenue of $644.56 million during the quarter, compared to analyst estimates of $632.41 million. AvalonBay Communities had a return on equity of 7.47% and a net margin of 33.39%. The business's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 earnings per share. Sell-side analysts expect that AvalonBay Communities will post 9.8 EPS for the current year.
AvalonBay Communities Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $1.59 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $6.36 annualized dividend and a yield of 2.92%. AvalonBay Communities's dividend payout ratio is currently 109.28%.
Wall Street Analysts Forecast Growth
AVB has been the topic of several research analyst reports. Mizuho lowered their price target on AvalonBay Communities from $260.00 to $212.00 and set a "buy" rating on the stock in a report on Monday, June 27th. Morgan Stanley raised their target price on AvalonBay Communities from $210.00 to $242.00 and gave the stock an "overweight" rating in a report on Thursday. Credit Suisse Group initiated coverage on AvalonBay Communities in a report on Wednesday, June 22nd. They issued a "neutral" rating and a $208.00 target price on the stock. Piper Sandler decreased their target price on AvalonBay Communities from $210.00 to $205.00 and set a "neutral" rating on the stock in a report on Wednesday, July 20th. Finally, Scotiabank decreased their target price on AvalonBay Communities from $262.00 to $238.00 in a report on Thursday, May 19th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $239.21.