AvalonBay Communities, Inc. (NYSE:AVB) Receives Consensus Rating of “Hold” from Analysts

by · The Markets Daily

AvalonBay Communities, Inc. (NYSE:AVB – Get Free Report) has been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $227.06.

A number of brokerages have recently issued reports on AVB. BNP Paribas began coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Piper Sandler lifted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Scotiabank upped their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Finally, Evercore ISI lifted their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th.

Read Our Latest Analysis on AvalonBay Communities

Institutional Investors Weigh In On AvalonBay Communities

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in AvalonBay Communities by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after purchasing an additional 13,631 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after acquiring an additional 249,400 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of AvalonBay Communities by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock valued at $342,824,000 after acquiring an additional 8,809 shares in the last quarter. Bank of New York Mellon Corp grew its position in AvalonBay Communities by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after acquiring an additional 126,055 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in AvalonBay Communities by 11.9% during the 1st quarter. Russell Investments Group Ltd. now owns 784,723 shares of the real estate investment trust’s stock worth $145,576,000 after acquiring an additional 83,400 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $233.88 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $33.26 billion, a P/E ratio of 31.99, a P/E/G ratio of 3.33 and a beta of 0.97. AvalonBay Communities has a 12 month low of $164.76 and a 12 month high of $236.26. The stock has a 50 day moving average of $225.92 and a 200-day moving average of $211.05.

AvalonBay Communities (NYSE:AVB – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a return on equity of 8.87% and a net margin of 36.20%. During the same period last year, the firm earned $2.66 earnings per share. As a group, equities research analysts predict that AvalonBay Communities will post 11.01 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is 93.02%.

AvalonBay Communities Company Profile

(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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