AvalonBay Communities (NYSE:AVB) Price Target Raised to $217.00

by · The Markets Daily

AvalonBay Communities (NYSE:AVB – Free Report) had its target price increased by Barclays from $216.00 to $217.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on AVB. Morgan Stanley dropped their target price on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Cantor Fitzgerald began coverage on shares of AvalonBay Communities in a report on Wednesday, October 1st. They issued a “neutral” rating and a $205.00 price target on the stock. Colliers Securities reissued a “neutral” rating and set a $195.00 price objective (down from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Royal Bank Of Canada decreased their target price on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $205.89.

View Our Latest Stock Report on AVB

AvalonBay Communities Stock Up 0.3%

Shares of NYSE:AVB opened at $180.74 on Tuesday. AvalonBay Communities has a 1 year low of $166.73 and a 1 year high of $230.21. The company has a market capitalization of $25.59 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The business has a fifty day moving average price of $179.83 and a two-hundred day moving average price of $187.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.67 and a quick ratio of 0.67.

AvalonBay Communities (NYSE:AVB – Get Free Report) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The business had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.During the same quarter in the previous year, the firm earned $2.74 earnings per share. Analysts forecast that AvalonBay Communities will post 11.48 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, December 31st. AvalonBay Communities’s payout ratio is presently 85.47%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in shares of AvalonBay Communities by 5.7% during the first quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 148 shares during the period. Geneos Wealth Management Inc. increased its holdings in AvalonBay Communities by 52.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 475 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 163 shares during the period. Voya Investment Management LLC lifted its stake in AvalonBay Communities by 0.5% in the 1st quarter. Voya Investment Management LLC now owns 41,790 shares of the real estate investment trust’s stock worth $8,969,000 after purchasing an additional 202 shares in the last quarter. Parallel Advisors LLC boosted its holdings in AvalonBay Communities by 15.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,163 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 158 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of AvalonBay Communities by 20.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 476 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

(Get Free Report)

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.

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