AvalonBay Communities, Inc. (AVB) Earns “Hold” Rating from BMO Capital Markets
BMO Capital Markets reissued their hold rating on shares of AvalonBay Communities, Inc. (NYSE:AVB) in a report issued on Wednesday morning. The brokerage currently has a $191.00 target price on the real estate investment trust’s stock.
AVB has been the subject of a number of other research reports. BidaskClub cut AvalonBay Communities from a buy rating to a hold rating in a research report on Tuesday, July 11th. Barclays PLC raised their price objective on AvalonBay Communities from $188.00 to $189.00 and gave the stock an equal weight rating in a research report on Tuesday, July 18th. JMP Securities cut AvalonBay Communities from an outperform rating to a market perform rating in a research report on Wednesday, April 19th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a hold rating and set a $196.00 price target on shares of AvalonBay Communities in a research report on Tuesday, July 4th. Finally, Evercore ISI lowered their price target on AvalonBay Communities from $188.00 to $186.00 and set an in-line rating for the company in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. AvalonBay Communities presently has a consensus rating of Hold and a consensus target price of $193.58.
Shares of AvalonBay Communities (AVB) opened at 187.87 on Wednesday. The company’s 50-day moving average price is $191.58 and its 200-day moving average price is $186.57. AvalonBay Communities has a 52-week low of $158.32 and a 52-week high of $199.52. The stock has a market cap of $25.82 billion, a PE ratio of 25.03 and a beta of 0.34.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.14 by $0.05. The business had revenue of $530.51 million during the quarter, compared to analyst estimates of $529.48 million. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. During the same period in the previous year, the business earned $2.03 EPS. On average, equities research analysts forecast that AvalonBay Communities will post $5.00 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.02%. AvalonBay Communities’s payout ratio is currently 78.13%.
In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of AvalonBay Communities stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $193.88, for a total transaction of $991,114.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Keri A. Shea sold 1,000 shares of AvalonBay Communities stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $192.36, for a total value of $192,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,626 shares of company stock valued at $2,047,645 in the last quarter. Company insiders own 0.53% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares during the last quarter. BB&T Securities LLC raised its position in AvalonBay Communities by 0.5% in the first quarter. BB&T Securities LLC now owns 3,508 shares of the real estate investment trust’s stock worth $644,000 after buying an additional 16 shares during the last quarter. Conning Inc. raised its position in AvalonBay Communities by 0.4% in the second quarter. Conning Inc. now owns 4,289 shares of the real estate investment trust’s stock worth $824,000 after buying an additional 19 shares during the last quarter. Whittier Trust Co. raised its position in AvalonBay Communities by 2.8% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 31 shares during the last quarter. Finally, Blair William & Co. IL raised its position in AvalonBay Communities by 0.6% in the first quarter. Blair William & Co. IL now owns 7,171 shares of the real estate investment trust’s stock worth $1,317,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
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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