AvalonBay Communities, Inc. (NYSE:AVB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of AvalonBay Communities, Inc. (NYSE:AVBGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $196.34.

Several equities analysts have recently weighed in on AVB shares. Truist Financial downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and boosted their target price for the company from $202.00 to $203.00 in a research report on Tuesday, January 16th. KeyCorp reissued a “sector weight” rating on shares of AvalonBay Communities in a research report on Friday, January 5th. Barclays raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $194.00 to $204.00 in a research report on Tuesday, February 20th. Mizuho reduced their target price on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price objective on the stock.

Check Out Our Latest Stock Analysis on AvalonBay Communities

AvalonBay Communities Stock Up 1.0 %

Shares of AVB opened at $186.96 on Monday. The business’s 50 day moving average is $178.95 and its 200 day moving average is $177.20. The company has a market capitalization of $26.55 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 3.43 and a beta of 0.92. AvalonBay Communities has a 12-month low of $153.07 and a 12-month high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The business had revenue of $704.71 million for the quarter, compared to the consensus estimate of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same period last year, the business posted $2.59 EPS. Research analysts expect that AvalonBay Communities will post 10.84 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $1.70 per share. The ex-dividend date is Wednesday, March 27th. This represents a $6.80 dividend on an annualized basis and a yield of 3.64%. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. AvalonBay Communities’s dividend payout ratio is currently 103.82%.

Hedge Funds Weigh In On AvalonBay Communities

Several hedge funds and other institutional investors have recently made changes to their positions in AVB. BlackRock Inc. increased its stake in AvalonBay Communities by 0.4% during the second quarter. BlackRock Inc. now owns 15,723,924 shares of the real estate investment trust’s stock worth $2,976,067,000 after acquiring an additional 69,187 shares during the last quarter. State Street Corp boosted its holdings in AvalonBay Communities by 0.6% in the second quarter. State Street Corp now owns 10,147,624 shares of the real estate investment trust’s stock valued at $1,937,005,000 after purchasing an additional 60,027 shares during the period. Norges Bank purchased a new position in AvalonBay Communities in the fourth quarter valued at $1,271,756,000. JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 5,250,683 shares of the real estate investment trust’s stock valued at $993,797,000 after purchasing an additional 387,254 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in AvalonBay Communities by 2.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,833,571 shares of the real estate investment trust’s stock valued at $812,332,000 after purchasing an additional 106,604 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

About AvalonBay Communities

(Get Free Report

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.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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