AvalonBay Communities, Inc. (NYSE:AVB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have earned a consensus recommendation of “Hold” from the eighteen analysts that are currently covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $231.33.

A number of equities analysts recently commented on AVB shares. Deutsche Bank Aktiengesellschaft increased their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Barclays initiated coverage on shares of AvalonBay Communities in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $243.00 price objective for the company. Finally, Evercore ISI upped their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th.

Insider Transactions at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the sale, the director now owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. HB Wealth Management LLC purchased a new position in shares of AvalonBay Communities during the second quarter valued at $235,000. Crossmark Global Holdings Inc. grew its holdings in AvalonBay Communities by 8.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,404 shares of the real estate investment trust’s stock worth $1,532,000 after acquiring an additional 593 shares in the last quarter. Commonwealth Equity Services LLC increased its position in AvalonBay Communities by 6.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 19,566 shares of the real estate investment trust’s stock valued at $4,048,000 after purchasing an additional 1,182 shares during the period. Nicola Wealth Management LTD. raised its holdings in shares of AvalonBay Communities by 10.3% in the 2nd quarter. Nicola Wealth Management LTD. now owns 8,550 shares of the real estate investment trust’s stock valued at $1,769,000 after purchasing an additional 800 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of AvalonBay Communities by 0.4% in the 2nd quarter. Natixis Advisors LLC now owns 62,719 shares of the real estate investment trust’s stock worth $12,976,000 after purchasing an additional 279 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Down 1.0 %

AvalonBay Communities stock opened at $221.18 on Friday. AvalonBay Communities has a 1 year low of $169.37 and a 1 year high of $239.29. The firm’s 50 day moving average price is $227.38 and its 200-day moving average price is $219.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market cap of $31.46 billion, a P/E ratio of 30.26, a PEG ratio of 3.30 and a beta of 0.98.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The company had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the prior year, the firm posted $2.66 earnings per share. On average, equities analysts predict that AvalonBay Communities will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 3.07%. AvalonBay Communities’s dividend payout ratio (DPR) is 93.02%.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.