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 Stock Up 0.6 %
Shares of NYSE:AVB opened at $215.08 on Friday. The company has a market capitalization of $30.07 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 3.55 and a beta of 0.93. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $197.37 and a two-hundred day moving average of $222.12. 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 released its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.99 EPS for the quarter, beating the consensus estimate of $0.92 by $0.07. The company had revenue of $644.56 million during the quarter, compared to analysts' expectations of $632.41 million. AvalonBay Communities had a return on equity of 7.47% and a net margin of 33.39%. The business's revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. As a group, analysts forecast that AvalonBay Communities will post 9.77 earnings per share for the current fiscal year.
AvalonBay Communities Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Wednesday, June 29th. AvalonBay Communities's dividend payout ratio (DPR) is currently 109.28%.
Analysts Set New Price Targets
AVB has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of AvalonBay Communities from $263.00 to $224.00 and set a "hold" rating on the stock in a research note on Friday, June 24th. Jefferies Financial Group decreased their price objective on shares of AvalonBay Communities from $214.00 to $174.00 and set a "hold" rating on the stock in a research report on Thursday, June 30th. Scotiabank decreased their price objective on shares of AvalonBay Communities from $262.00 to $238.00 in a research report on Thursday, May 19th. Credit Suisse Group initiated coverage on shares of AvalonBay Communities in a report on Wednesday, June 22nd. They issued a "neutral" rating and a $208.00 target price on the stock. Finally, Piper Sandler reduced their target price on shares of AvalonBay Communities from $210.00 to $205.00 and set a "neutral" rating on the stock in a report on Wednesday, July 20th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of "Hold" and an average price target of $239.21.