AvalonBay Communities (NYSE:AVB) Price Target Raised to $186.00

AvalonBay Communities (NYSE:AVB) had its price objective hoisted by Cantor Fitzgerald from $179.00 to $186.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

AVB has been the subject of several other reports. Colliers Securities reiterated a “neutral” rating and set a $195.00 price target (down from $200.00) on shares of AvalonBay Communities in a research report on Thursday, December 4th. Truist Financial dropped their price objective on shares of AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Barclays raised their price target on shares of AvalonBay Communities from $216.00 to $217.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Wall Street Zen cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Six research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $201.10.

AvalonBay Communities Trading Up 1.3%

Shares of AvalonBay Communities stock opened at $179.75 on Monday. The stock has a market cap of $25.45 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 3.12 and a beta of 0.76. The firm has a fifty day moving average price of $178.86 and a 200 day moving average price of $184.23. AvalonBay Communities has a 1 year low of $166.73 and a 1 year high of $230.21. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.67 and a quick ratio of 0.67.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.01. The company had revenue of $767.86 million for the quarter, compared to the consensus estimate of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same period last year, the firm earned $2.80 EPS. Equities research analysts predict that AvalonBay Communities will post 11.48 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.75. The ex-dividend date is Tuesday, March 31st. AvalonBay Communities’s dividend payout ratio (DPR) is 96.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Zions Bancorporation National Association UT increased its stake in AvalonBay Communities by 300.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of AvalonBay Communities by 4.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 40,691 shares of the real estate investment trust’s stock worth $7,378,000 after acquiring an additional 1,764 shares during the last quarter. Metis Global Partners LLC increased its position in shares of AvalonBay Communities by 32.4% during the fourth quarter. Metis Global Partners LLC now owns 59,269 shares of the real estate investment trust’s stock worth $10,746,000 after purchasing an additional 14,509 shares in the last quarter. Deutsche Bank AG raised its stake in AvalonBay Communities by 0.4% in the 4th quarter. Deutsche Bank AG now owns 600,767 shares of the real estate investment trust’s stock valued at $108,925,000 after purchasing an additional 2,208 shares during the last quarter. Finally, Westerkirk Capital Inc. lifted its holdings in AvalonBay Communities by 7.9% in the 4th quarter. Westerkirk Capital Inc. now owns 4,100 shares of the real estate investment trust’s stock valued at $743,000 after purchasing an additional 300 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

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.