AvalonBay Communities, Inc. (NYSE:AVB) Receives $234.53 Consensus Target Price from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received a consensus rating of “Hold” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $234.60.

A number of research firms have recently issued reports on AVB. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Royal Bank of Canada decreased their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Finally, Scotiabank cut their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th.

Insiders Place Their Bets

In related news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the sale, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On AvalonBay Communities

A number of large investors have recently modified their holdings of AVB. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $26,000. Brooklyn Investment Group bought a new position in shares of AvalonBay Communities in the third quarter worth about $39,000. Mather Group LLC. grew its holdings 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 valued at $45,000 after purchasing an additional 56 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities during the 3rd quarter worth approximately $51,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in AvalonBay Communities by 59.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 179 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 1.9 %

NYSE AVB opened at $215.27 on Thursday. The company has a market cap of $30.62 billion, a PE ratio of 29.45, a PEG ratio of 2.98 and a beta of 0.99. AvalonBay Communities has a 12 month low of $169.37 and a 12 month high of $239.29. The stock has a 50 day moving average of $222.63 and a 200-day moving average of $221.51. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the prior year, the firm earned $2.66 earnings per share. On average, equities research analysts anticipate that AvalonBay Communities will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

AvalonBay Communities Company Profile

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.