AvalonBay Communities (AVB) Given a $185.00 Price Target at Mizuho
Mizuho set a $185.00 price target on AvalonBay Communities (NYSE:AVB) in a research note issued to investors on Friday. The brokerage currently has a buy rating on the real estate investment trust’s stock.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research raised AvalonBay Communities from a sell rating to a hold rating in a report on Monday, October 30th. Royal Bank of Canada lowered their target price on AvalonBay Communities from $206.00 to $200.00 and set an outperform rating on the stock in a report on Monday, November 6th. JPMorgan Chase & Co. downgraded AvalonBay Communities from an overweight rating to a neutral rating and set a $211.00 target price on the stock. in a report on Friday, December 15th. Robert W. Baird reissued a buy rating and issued a $187.00 target price on shares of AvalonBay Communities in a report on Tuesday, January 9th. Finally, UBS Group raised AvalonBay Communities from a neutral rating to a buy rating and increased their target price for the company from $190.00 to $206.00 in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $195.35.
AvalonBay Communities (NYSE AVB) traded up $4.67 during mid-day trading on Friday, reaching $159.61. The company’s stock had a trading volume of 1,348,739 shares, compared to its average volume of 873,965. AvalonBay Communities has a 52 week low of $154.82 and a 52 week high of $199.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $21,395.34, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.34 and a beta of 0.34.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $5.88 annualized dividend and a dividend yield of 3.68%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio (DPR) is 89.31%.
In other news, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $182.75, for a total value of $365,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Sean J. Breslin sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,628,669 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Candriam Luxembourg S.C.A. raised its stake in AvalonBay Communities by 6.6% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,496 shares of the real estate investment trust’s stock valued at $2,051,000 after purchasing an additional 716 shares during the period. Magnetar Financial LLC bought a new stake in AvalonBay Communities during the 3rd quarter valued at approximately $772,000. Cubist Systematic Strategies LLC raised its stake in AvalonBay Communities by 91.2% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,250 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 1,073 shares during the period. PGGM Investments raised its stake in AvalonBay Communities by 5.6% during the 3rd quarter. PGGM Investments now owns 1,642,210 shares of the real estate investment trust’s stock valued at $293,003,000 after purchasing an additional 86,594 shares during the period. Finally, Koch Industries Inc. bought a new stake in AvalonBay Communities during the 2nd quarter valued at approximately $365,000. 95.24% of the stock is currently owned by institutional investors.
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About AvalonBay Communities
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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