AvalonBay Communities Inc (NYSE:AVB) has earned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $196.07.
A number of brokerages have recently issued reports on AVB. SunTrust Banks raised their target price on shares of AvalonBay Communities to $208.00 and gave the stock an “average” rating in a research report on Thursday. BTIG Research upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $216.00 target price on the stock in a research report on Thursday, December 6th. ValuEngine lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Morgan Stanley raised their target price on shares of AvalonBay Communities from $168.00 to $194.00 and gave the stock an “equal weight” rating in a research report on Monday, December 17th. Finally, BMO Capital Markets upgraded shares of AvalonBay Communities from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $188.00 to $195.00 in a research report on Friday, November 2nd.
Get AvalonBay Communities alerts:In related news, EVP Edward M. Schulman sold 1,400 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $183.76, for a total transaction of $257,264.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Keri A. Shea sold 1,880 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $185.10, for a total value of $347,988.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,953 shares of company stock valued at $7,096,213. Corporate insiders own 0.43% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Advisory Securities LLC lifted its holdings in shares of AvalonBay Communities by 1.6% during the fourth quarter. Brown Advisory Securities LLC now owns 3,323 shares of the real estate investment trust’s stock worth $563,000 after purchasing an additional 53 shares during the period. M&T Bank Corp lifted its holdings in shares of AvalonBay Communities by 0.5% during the fourth quarter. M&T Bank Corp now owns 11,665 shares of the real estate investment trust’s stock worth $2,031,000 after purchasing an additional 54 shares during the period. LPL Financial LLC lifted its holdings in shares of AvalonBay Communities by 1.1% during the fourth quarter. LPL Financial LLC now owns 5,057 shares of the real estate investment trust’s stock worth $880,000 after purchasing an additional 56 shares during the period. San Francisco Sentry Investment Group CA lifted its holdings in shares of AvalonBay Communities by 9.9% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 644 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 58 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of AvalonBay Communities by 24.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 306 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 60 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.
AvalonBay Communities stock traded down $0.64 during mid-day trading on Friday, hitting $195.43. The company had a trading volume of 278,244 shares, compared to its average volume of 586,427. The firm has a market capitalization of $27.10 billion, a P/E ratio of 21.71, a P/E/G ratio of 3.24 and a beta of 0.62. AvalonBay Communities has a 1 year low of $152.65 and a 1 year high of $196.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, February 4th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The business had revenue of $578.52 million for the quarter, compared to analysts’ expectations of $576.56 million. AvalonBay Communities had a return on equity of 9.33% and a net margin of 42.66%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.72 earnings per share. As a group, research analysts expect that AvalonBay Communities will post 9.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $1.52 per share. The ex-dividend date is Thursday, March 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.47. This represents a $6.08 annualized dividend and a dividend yield of 3.11%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 65.33%.
About AvalonBay Communities
As of September 30, 2018, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 84,490 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 15 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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