Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) PT at $205.89

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given an average rating of “Hold” by the eighteen research firms that are covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $205.8214.

A number of brokerages recently commented on AVB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Tuesday, October 14th. Cantor Fitzgerald started coverage on AvalonBay Communities in a research report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 price objective for the company. Mizuho lowered their target price on AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Piper Sandler cut their price target on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Finally, Wells Fargo & Company reduced their price target on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a report on Monday, November 10th.

AvalonBay Communities Stock Performance

Shares of AVB opened at $179.48 on Thursday. AvalonBay Communities has a one year low of $166.73 and a one year high of $230.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 3.05 and a beta of 0.75. The company has a 50-day moving average of $179.56 and a two-hundred day moving average of $188.31.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The firm had revenue of $766.80 million for the quarter, compared to analyst estimates of $766.22 million. During the same period last year, the firm earned $2.74 earnings per share. On average, equities research analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $1.75 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.9%. AvalonBay Communities’s payout ratio is 85.47%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AVB. Perpetual Ltd boosted its holdings in AvalonBay Communities by 0.5% during the second quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock valued at $2,167,000 after acquiring an additional 50 shares during the period. CX Institutional lifted its position in shares of AvalonBay Communities by 6.3% during the 2nd quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 58 shares during the last quarter. Probity Advisors Inc. boosted its stake in AvalonBay Communities by 2.7% during the 2nd quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock valued at $456,000 after purchasing an additional 60 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in AvalonBay Communities by 1.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 60 shares during the period. Finally, PFG Investments LLC grew its holdings in AvalonBay Communities by 4.4% in the 3rd quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust’s stock valued at $281,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.