AvalonBay Communities, Inc. (NYSE:AVB) Receives $237.40 Consensus Price Target from Brokerages

AvalonBay Communities, Inc. (NYSE:AVB) has received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $237.40.

A number of brokerages have commented on AVB. Royal Bank of Canada boosted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Piper Sandler decreased their price target on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Morgan Stanley lowered shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Finally, Truist Financial raised their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research note on Monday, March 10th.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wedmont Private Capital raised its stake in shares of AvalonBay Communities by 5.3% in the fourth quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 55 shares during the last quarter. Baker Tilly Wealth Management LLC increased its holdings in AvalonBay Communities by 1.8% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 58 shares in the last quarter. Signaturefd LLC raised its position in AvalonBay Communities by 4.0% in the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 62 shares during the last quarter. Private Advisor Group LLC boosted its stake in AvalonBay Communities by 2.6% in the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 63 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of AvalonBay Communities by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust’s stock worth $2,679,000 after purchasing an additional 69 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

AVB stock opened at $193.52 on Tuesday. The firm has a 50 day simple moving average of $213.58 and a 200 day simple moving average of $220.11. AvalonBay Communities has a 52 week low of $177.40 and a 52 week high of $239.29. The stock has a market cap of $27.55 billion, a P/E ratio of 25.50, a P/E/G ratio of 3.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Research analysts anticipate that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.62%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.