Truist Financial Boosts AvalonBay Communities (NYSE:AVB) Price Target to $230.00

AvalonBay Communities (NYSE:AVB) had its price objective boosted by Truist Financial from $229.00 to $230.00 in a report published on Monday morning,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

AVB has been the topic of several other research reports. Morgan Stanley downgraded shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Piper Sandler decreased their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Scotiabank decreased their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Evercore ISI lifted their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Stock Performance

Shares of AVB opened at $210.02 on Monday. The firm has a 50-day moving average price of $218.41 and a 200 day moving average price of $223.57. The firm has a market capitalization of $29.88 billion, a PE ratio of 27.67, a P/E/G ratio of 3.11 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a 52-week low of $177.40 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data 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, sell-side analysts anticipate that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.33%. AvalonBay Communities’s payout ratio is presently 92.23%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC raised its stake in AvalonBay Communities by 4.6% during the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 55 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of AvalonBay Communities by 5.3% in the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 55 shares in the last quarter. MAI Capital Management increased its holdings in shares of AvalonBay Communities by 1.7% in the 3rd quarter. MAI Capital Management now owns 3,633 shares of the real estate investment trust’s stock worth $818,000 after purchasing an additional 60 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of AvalonBay Communities by 3.1% in the 3rd quarter. Raymond James Trust N.A. now owns 2,015 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 60 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of AvalonBay Communities by 4.0% in the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

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.