AvalonBay Communities Inc (NYSE:AVB) has been given an average rating of “Hold” by the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $205.07.
A number of brokerages recently weighed in on AVB. Mizuho set a $27.00 price target on shares of Horizon Therapeutics and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Barclays set a $325.00 price target on shares of Align Technology and gave the stock a “buy” rating in a research note on Thursday, April 11th. KeyCorp increased their price target on shares of Terreno Realty from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday. Argus reiterated a “buy” rating and set a $215.00 price target on shares of AvalonBay Communities in a research note on Tuesday, April 30th. Finally, Robert W. Baird increased their price target on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th.
Shares of AvalonBay Communities stock traded down $0.92 during trading hours on Tuesday, hitting $210.48. The company had a trading volume of 410,869 shares, compared to its average volume of 596,562. The company’s 50-day moving average price is $206.53. AvalonBay Communities has a twelve month low of $167.01 and a twelve month high of $214.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $29.34 billion, a P/E ratio of 23.39, a P/E/G ratio of 3.99 and a beta of 0.51.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.02. AvalonBay Communities had a net margin of 45.94% and a return on equity of 9.52%. The business had revenue of $459.80 million during the quarter, compared to analysts’ expectations of $575.92 million. During the same quarter in the prior year, the business posted $2.18 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts expect that AvalonBay Communities will post 9.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, June 27th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 67.56%.
In other news, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $210.00, for a total value of $420,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sean J. Breslin sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $201.75, for a total transaction of $302,625.00. The disclosure for this sale can be found here. Insiders sold a total of 9,881 shares of company stock valued at $2,042,649 in the last 90 days. Company insiders own 0.42% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AVB. Norges Bank purchased a new position in shares of AvalonBay Communities in the 4th quarter valued at about $225,932,000. Principal Financial Group Inc. increased its holdings in shares of AvalonBay Communities by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 4,208,825 shares of the real estate investment trust’s stock valued at $844,837,000 after purchasing an additional 445,179 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of AvalonBay Communities by 119.8% in the 4th quarter. Deutsche Bank AG now owns 589,395 shares of the real estate investment trust’s stock valued at $102,575,000 after purchasing an additional 321,291 shares in the last quarter. BlackRock Inc. increased its holdings in shares of AvalonBay Communities by 2.0% in the 1st quarter. BlackRock Inc. now owns 16,019,099 shares of the real estate investment trust’s stock valued at $3,215,513,000 after purchasing an additional 318,151 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of AvalonBay Communities by 36.2% in the 4th quarter. Nuveen Asset Management LLC now owns 821,848 shares of the real estate investment trust’s stock valued at $143,043,000 after purchasing an additional 218,586 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.
About AvalonBay Communities
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
Further Reading: Why do analysts give a neutral rating?
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