AvalonBay Communities Inc. (NYSE:AVB) was upgraded by equities research analysts at Evercore ISI from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $179.00 price objective on the real estate investment trust’s stock. Evercore ISI’s price objective indicates a potential upside of 8.64% from the stock’s current price.

A number of other brokerages have also recently weighed in on AVB. Jefferies Group reaffirmed a “hold” rating on shares of AvalonBay Communities in a research report on Monday, August 1st. Deutsche Bank AG decreased their price target on shares of AvalonBay Communities from $194.00 to $193.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Sandler O’Neill raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th. BTIG Research began coverage on shares of AvalonBay Communities in a research report on Thursday, August 25th. They set a “buy” rating and a $208.00 price target for the company. Finally, Zacks Investment Research cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $194.56.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

AvalonBay Communities (NYSE:AVB) opened at 164.76 on Monday. The firm’s 50 day moving average price is $167.28 and its 200 day moving average price is $175.48. The stock has a market cap of $22.63 billion, a price-to-earnings ratio of 23.90 and a beta of 0.39. AvalonBay Communities has a one year low of $158.32 and a one year high of $192.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $2.11 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.11. AvalonBay Communities had a net margin of 50.39% and a return on equity of 9.57%. During the same quarter in the previous year, the firm posted $2.02 earnings per share. Equities analysts forecast that AvalonBay Communities will post $8.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Friday, December 30th will be paid a dividend of $1.35 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $5.40 annualized dividend and a yield of 3.28%. AvalonBay Communities’s dividend payout ratio is 78.37%.

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Large investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. raised its stake in AvalonBay Communities by 32.5% in the third quarter. Brookfield Asset Management Inc. now owns 861,117 shares of the real estate investment trust’s stock valued at $153,141,000 after buying an additional 211,367 shares during the period. Price T Rowe Associates Inc. MD boosted its position in AvalonBay Communities by 6.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,418,752 shares of the real estate investment trust’s stock valued at $607,991,000 after buying an additional 213,856 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in AvalonBay Communities during the third quarter valued at approximately $1,002,000. Credit Suisse AG boosted its position in AvalonBay Communities by 3.9% in the third quarter. Credit Suisse AG now owns 622,380 shares of the real estate investment trust’s stock valued at $110,685,000 after buying an additional 23,093 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in AvalonBay Communities by 21.0% in the third quarter. Ameritas Investment Partners Inc. now owns 3,282 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 570 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust. The Company focuses on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

5 Day Chart for NYSE:AVB

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