AvalonBay Communities (NYSE:AVB) Price Target Raised to $240.00

AvalonBay Communities (NYSE:AVB) had its target price boosted by Evercore ISI from $230.00 to $240.00 in a report published on Monday morning,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the company. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Royal Bank of Canada boosted their target price on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $239.00 to $242.00 in a report on Monday, January 6th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, Barclays decreased their price objective on AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $235.73.

AvalonBay Communities Stock Down 0.5 %

NYSE:AVB opened at $217.88 on Monday. The firm has a market capitalization of $30.99 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 3.10 and a beta of 0.99. AvalonBay Communities has a twelve month low of $169.37 and a twelve month high of $239.29. The stock’s 50 day moving average price is $220.08 and its two-hundred day moving average price is $222.47. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. Equities research analysts expect that AvalonBay Communities will post 11.53 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.75 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is 89.59%.

Institutional Trading of AvalonBay Communities

Large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new stake in shares of AvalonBay Communities during the 3rd quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth $36,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $39,000. Crowley Wealth Management Inc. bought a new stake in shares of AvalonBay Communities during the 4th quarter worth $44,000. Finally, Mather Group LLC. lifted its position in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.