AvalonBay Communities (NYSE:AVB) Upgraded to “Outperform” at Zelman & Associates

Zelman & Associates upgraded shares of AvalonBay Communities (NYSE:AVB) from a neutral rating to an outperform rating in a research note published on Thursday,Benzinga reports.

Other research analysts have also issued research reports about the company. Evercore ISI upped their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price target for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Piper Sandler reduced their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday. Royal Bank of Canada upped their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Finally, Scotiabank reduced their price target 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. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.73.

AvalonBay Communities Stock Performance

NYSE AVB opened at $220.04 on Thursday. The business’s 50-day moving average price is $219.88 and its 200 day moving average price is $222.44. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $31.30 billion, a P/E ratio of 28.99, a P/E/G ratio of 3.10 and a beta of 0.99. AvalonBay Communities has a 52-week low of $172.16 and a 52-week high of $239.29.

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

AvalonBay Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $1.75 dividend. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, March 31st. AvalonBay Communities’s dividend payout ratio is presently 89.59%.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in AvalonBay Communities in the third quarter valued at about $26,000. Whipplewood Advisors LLC bought a new position in AvalonBay Communities during the 4th quarter worth $36,000. Brooklyn Investment Group acquired a new stake in shares of AvalonBay Communities in the 3rd quarter worth about $39,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $44,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $51,000. 92.61% of the stock is owned by institutional investors and hedge funds.

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.