Scotiabank began coverage on shares of AvalonBay Communities (NYSE:AVB) in a research note released on Tuesday, The Fly reports. The firm issued a sector perform rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus lifted their price target on AvalonBay Communities from $180.00 to $195.00 and gave the company a buy rating in a research note on Thursday, August 2nd. Evercore ISI set a $194.00 price target on AvalonBay Communities and gave the company a buy rating in a research note on Monday, October 1st. Argus lifted their price target on AvalonBay Communities to $196.00 and gave the company a buy rating in a research note on Wednesday, August 15th. Mizuho restated a buy rating and issued a $212.00 price target on shares of AvalonBay Communities in a research note on Monday, August 6th. Finally, ValuEngine upgraded AvalonBay Communities from a sell rating to a hold rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $192.50.

Shares of AvalonBay Communities stock opened at $176.30 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. AvalonBay Communities has a twelve month low of $152.65 and a twelve month high of $188.91. The stock has a market capitalization of $24.33 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.33.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by ($0.36). AvalonBay Communities had a net margin of 39.01% and a return on equity of 8.42%. The business had revenue of $569.24 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same quarter in the prior year, the firm earned $2.09 EPS. Analysts forecast that AvalonBay Communities will post 8.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.34%. The ex-dividend date was Thursday, September 27th. AvalonBay Communities’s payout ratio is 68.21%.

In related news, COO Sean J. Breslin sold 7,200 shares of AvalonBay Communities stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $182.20, for a total value of $1,311,840.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin P. O’shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $179.85, for a total value of $359,700.00. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Adviser Investments LLC acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth approximately $124,000. Assetmark Inc. boosted its holdings in shares of AvalonBay Communities by 44.1% during the 1st quarter. Assetmark Inc. now owns 1,156 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 354 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $201,000. HRT Financial LLC acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth approximately $201,000. Finally, Whittier Trust Co. boosted its holdings in shares of AvalonBay Communities by 86.2% during the 2nd quarter. Whittier Trust Co. now owns 1,873 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 867 shares during the last quarter. Institutional investors own 93.22% of the company’s stock.

About AvalonBay Communities

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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