AvalonBay Communities Inc (NYSE:AVB) has earned an average rating of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $224.00.
Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of AvalonBay Communities from $214.00 to $224.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Morgan Stanley increased their price target on shares of AvalonBay Communities from $217.00 to $229.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Goldman Sachs Group started coverage on shares of AvalonBay Communities in a research note on Friday, November 8th. They issued a “buy” rating and a $244.00 target price on the stock. Evercore ISI upgraded shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $225.00 target price on the stock in a research note on Tuesday, November 19th. Finally, SunTrust Banks increased their target price on shares of AvalonBay Communities from $218.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th.
Shares of NYSE AVB opened at $215.94 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50-day moving average price of $215.28 and a 200-day moving average price of $210.52. The stock has a market capitalization of $30.16 billion, a P/E ratio of 23.99, a P/E/G ratio of 3.76 and a beta of 0.45. AvalonBay Communities has a 1 year low of $167.01 and a 1 year high of $222.87.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.80. The company had revenue of $587.61 million for the quarter, compared to analyst estimates of $585.86 million. AvalonBay Communities had a net margin of 45.56% and a return on equity of 9.35%. During the same quarter in the prior year, the business posted $1.39 EPS. As a group, equities research analysts anticipate that AvalonBay Communities will post 9.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.52 per share. The ex-dividend date is Monday, December 30th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.82%. AvalonBay Communities’s payout ratio is 67.56%.
In related news, COO Sean J. Breslin sold 777 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $213.51, for a total transaction of $165,897.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Naughton sold 26,634 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $213.60, for a total transaction of $5,689,022.40. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Man Group plc raised its position in shares of AvalonBay Communities by 84.7% in the third quarter. Man Group plc now owns 34,053 shares of the real estate investment trust’s stock worth $7,333,000 after buying an additional 15,615 shares in the last quarter. Voloridge Investment Management LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $7,920,000. Worldquant Millennium Advisors LLC increased its stake in AvalonBay Communities by 1.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 15,482 shares of the real estate investment trust’s stock worth $3,333,000 after acquiring an additional 290 shares during the last quarter. National Pension Service raised its holdings in shares of AvalonBay Communities by 4.9% in the 3rd quarter. National Pension Service now owns 186,508 shares of the real estate investment trust’s stock valued at $40,161,000 after acquiring an additional 8,681 shares in the last quarter. Finally, KCM Investment Advisors LLC purchased a new stake in shares of AvalonBay Communities in the 3rd quarter valued at about $269,000. 93.13% of the stock is owned by hedge funds and other institutional investors.
AvalonBay Communities Company Profile
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.
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