AvalonBay Communities, Inc. (NYSE:AVB) Upgraded at BidaskClub
BidaskClub upgraded shares of AvalonBay Communities, Inc. (NYSE:AVB) from a sell rating to a hold rating in a report released on Thursday.
AVB has been the topic of a number of other reports. BTIG Research raised their price objective on AvalonBay Communities from $191.00 to $200.00 and gave the company a buy rating in a report on Monday, April 24th. Argus initiated coverage on AvalonBay Communities in a report on Thursday, June 22nd. They set a buy rating and a $220.00 price objective on the stock. Royal Bank Of Canada reissued a buy rating and set a $203.00 price objective on shares of AvalonBay Communities in a report on Sunday, July 16th. Barclays PLC raised their price objective on AvalonBay Communities from $188.00 to $189.00 and gave the company an equal weight rating in a report on Tuesday, July 18th. Finally, BMO Capital Markets reissued a hold rating and set a $191.00 price objective on shares of AvalonBay Communities in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $193.58.
AvalonBay Communities (NYSE:AVB) traded up 0.03% on Thursday, hitting $187.87. The stock had a trading volume of 513,633 shares. The company has a 50-day moving average price of $191.58 and a 200-day moving average price of $186.57. AvalonBay Communities has a 1-year low of $158.32 and a 1-year high of $199.52. The stock has a market capitalization of $25.82 billion, a price-to-earnings ratio of 25.03 and a beta of 0.34.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.14 by $0.05. The business had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.91%. During the same quarter last year, the business posted $2.03 EPS. Equities analysts predict that AvalonBay Communities will post $5.00 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $1.42 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $5.68 dividend on an annualized basis and a yield of 3.02%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 78.13%.
In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of AvalonBay Communities stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $193.88, for a total value of $991,114.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew H. Birenbaum sold 2,750 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $191.20, for a total value of $525,800.00. The disclosure for this sale can be found here. Insiders sold a total of 10,626 shares of company stock worth $2,047,645 over the last ninety days. Insiders own 0.53% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Federated Investors Inc. PA boosted its position in shares of AvalonBay Communities by 212.0% in the second quarter. Federated Investors Inc. PA now owns 5,782 shares of the real estate investment trust’s stock worth $1,111,000 after buying an additional 3,929 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of AvalonBay Communities by 2.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 214,770 shares of the real estate investment trust’s stock worth $41,272,000 after buying an additional 4,787 shares during the period. Blair William & Co. IL boosted its position in shares of AvalonBay Communities by 0.7% in the second quarter. Blair William & Co. IL now owns 7,221 shares of the real estate investment trust’s stock worth $1,388,000 after buying an additional 50 shares during the period. Legal & General Group Plc boosted its position in shares of AvalonBay Communities by 3.4% in the second quarter. Legal & General Group Plc now owns 1,084,108 shares of the real estate investment trust’s stock worth $208,347,000 after buying an additional 35,411 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of AvalonBay Communities by 476.7% in the second quarter. SG Americas Securities LLC now owns 68,390 shares of the real estate investment trust’s stock worth $13,143,000 after buying an additional 56,532 shares during the period. 98.59% of the stock is currently owned by institutional investors and hedge funds.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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.
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