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").
Analysts Set New Price Targets
AVB has been the topic of a number of recent research reports. Evercore ISI set a $231.00 price target on AvalonBay Communities in a research report on Monday, June 20th. Mizuho cut their price target on AvalonBay Communities from $260.00 to $212.00 and set a "buy" rating for the company in a report on Monday, June 27th. Credit Suisse Group initiated coverage on AvalonBay Communities in a research report on Wednesday, June 22nd. They issued a "neutral" rating and a $208.00 target price on the stock. Truist Financial cut 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. Finally, UBS Group lifted their price objective on shares of AvalonBay Communities from $209.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, July 29th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $239.21.
AvalonBay Communities Stock Up 0.1 %
Shares of AVB traded up $0.16 during midday trading on Monday, reaching $218.32. 13,790 shares of the stock were exchanged, compared to its average volume of 752,916. AvalonBay Communities has a 52 week low of $183.35 and a 52 week high of $259.05. The company's 50 day moving average is $197.75 and its two-hundred day moving average is $221.55. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $30.53 billion, a P/E ratio of 37.62, a PEG ratio of 3.61 and a beta of 0.93.
AvalonBay Communities (NYSE:AVB - Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.99 EPS for the quarter, topping the consensus estimate of $0.92 by $0.07. AvalonBay Communities had a return on equity of 7.47% and a net margin of 33.39%. The business had revenue of $644.56 million for the quarter, compared to analyst estimates of $632.41 million. During the same quarter in the prior year, the firm posted $1.98 EPS. The business's quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AvalonBay Communities will post 9.8 earnings per share for the current 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 given a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, June 29th. AvalonBay Communities's dividend payout ratio (DPR) is presently 109.28%.