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

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $238.64.

A number of research analysts have weighed in on the company. Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $236.00 to $223.00 in a report on Friday, January 24th. Piper Sandler reduced their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Truist Financial upped their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price target for the company from $247.00 to $262.00 in a report on Tuesday, December 17th. Finally, Barclays reduced their target price on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $209.98 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a 50-day moving average of $217.98 and a 200-day moving average of $223.21. AvalonBay Communities has a one year low of $177.40 and a one year high of $239.29. The company has a market cap of $29.87 billion, a P/E ratio of 27.67, a P/E/G ratio of 3.11 and a beta of 1.00.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS 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%. Equities research analysts forecast that AvalonBay Communities will post 11.48 EPS 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. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is 92.23%.

Institutional Investors Weigh In On AvalonBay Communities

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 worth about $1,499,050,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AvalonBay Communities by 678.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after buying an additional 1,494,872 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of AvalonBay Communities by 35.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock worth $1,133,328,000 after buying an additional 1,336,698 shares in the last quarter. Northern Trust Corp lifted its stake in shares of AvalonBay Communities by 54.8% in the fourth quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock worth $581,324,000 after buying an additional 935,770 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of AvalonBay Communities by 49.9% during the fourth quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust’s stock valued at $547,500,000 after buying an additional 828,009 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

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.