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 1.6 %
AVB opened at $213.72 on Thursday. AvalonBay Communities has a 1-year low of $183.35 and a 1-year high of $259.05. 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 stock has a market capitalization of $29.88 billion, a price-to-earnings ratio of 36.72, a P/E/G ratio of 3.49 and a beta of 0.93. The business has a 50 day moving average of $197.37 and a 200-day moving average of $222.12.
AvalonBay Communities (NYSE:AVB - Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.99 earnings per share for the quarter, beating 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 company had revenue of $644.56 million during the quarter, compared to analysts' expectations of $632.41 million. During the same period in the prior year, the business earned $1.98 earnings per share. AvalonBay Communities's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that AvalonBay Communities will post 9.77 earnings per share for the current year.
AvalonBay Communities Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $1.59 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 2.98%. AvalonBay Communities's payout ratio is 109.28%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on AVB. Truist Financial cut their price objective on AvalonBay Communities from $263.00 to $224.00 and set a "hold" rating on the stock in a report on Friday, June 24th. Credit Suisse Group assumed coverage on AvalonBay Communities in a research note on Wednesday, June 22nd. They issued a "neutral" rating and a $208.00 price target for the company. UBS Group boosted their price target on AvalonBay Communities from $209.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, July 29th. Citigroup boosted their price target on AvalonBay Communities to $220.00 in a research note on Tuesday. Finally, Scotiabank lowered their price target on AvalonBay Communities from $262.00 to $238.00 in a research note on Thursday, May 19th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of "Hold" and an average target price of $237.53.