AvalonBay Communities, Inc. (NYSE:AVB) Given Consensus Rating of “Moderate Buy” by Analysts

AvalonBay Communities, Inc. (NYSE:AVB) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $199.78.

A number of research analysts have recently issued reports on AVB shares. Truist Financial dropped their price target on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 target price on the stock. Mizuho decreased their price target on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. The Goldman Sachs Group restated a “neutral” rating and set a $191.00 target price on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Finally, Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $175.00 to $191.50 in a research note on Monday, February 26th.

AvalonBay Communities Trading Down 0.2 %

AVB opened at $191.02 on Tuesday. The firm has a market cap of $27.16 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. The business’s 50 day moving average is $182.93 and its two-hundred day moving average is $178.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a 52 week low of $160.45 and a 52 week high of $198.65.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The company had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same period in the prior year, the company earned $2.57 earnings per share. On average, research analysts predict that AvalonBay Communities will post 10.84 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.56%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

Insider Activity

In related news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the transaction, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of AvalonBay Communities

A number of institutional investors have recently added to or reduced their stakes in AVB. CWM LLC grew its stake in shares of AvalonBay Communities by 18.3% in the third quarter. CWM LLC now owns 1,453 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 225 shares in the last quarter. Ronald Blue Trust Inc. grew its position in AvalonBay Communities by 316.7% in the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 171 shares in the last quarter. Trilogy Capital Inc. raised its stake in shares of AvalonBay Communities by 7.9% during the third quarter. Trilogy Capital Inc. now owns 13,220 shares of the real estate investment trust’s stock valued at $2,270,000 after purchasing an additional 966 shares during the period. Founders Financial Securities LLC lifted its position in shares of AvalonBay Communities by 7.0% during the third quarter. Founders Financial Securities LLC now owns 5,298 shares of the real estate investment trust’s stock worth $910,000 after purchasing an additional 346 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of AvalonBay Communities by 390.9% in the third quarter. Exchange Traded Concepts LLC now owns 13,784 shares of the real estate investment trust’s stock valued at $2,367,000 after purchasing an additional 10,976 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.