AvalonBay Communities (NYSE:AVB) Hits New 1-Year Low – Time to Sell?
by Kim Johansen · The Markets DailyAvalonBay Communities, Inc. (NYSE:AVB – Get Free Report)’s share price hit a new 52-week low on Friday . The stock traded as low as $160.43 and last traded at $160.47, with a volume of 476485 shares traded. The stock had previously closed at $163.41.
Analysts Set New Price Targets
AVB has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their price objective on shares of AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Truist Financial lowered their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Colliers Securities reissued a “neutral” rating and set a $195.00 price target (down from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Royal Bank Of Canada reduced their price target on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft cut AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price objective on the stock. in a research report on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $198.44.
Get Our Latest Stock Analysis on AvalonBay Communities
AvalonBay Communities Price Performance
The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $22.54 billion, a P/E ratio of 19.64, a P/E/G ratio of 2.87 and a beta of 0.75. The firm’s fifty day moving average is $174.47 and its two-hundred day moving average is $180.43.
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, beating the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The business had revenue of $767.86 million for the quarter, compared to the consensus estimate of $766.38 million. During the same period in the previous year, the business earned $2.80 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. 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 Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, March 31st. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.75. This represents a $7.12 annualized dividend and a dividend yield of 4.4%. AvalonBay Communities’s dividend payout ratio (DPR) is 86.94%.
Hedge Funds Weigh In On AvalonBay Communities
A number of hedge funds and other institutional investors have recently modified their holdings of AVB. Reflection Asset Management purchased a new stake in AvalonBay Communities in the 4th quarter worth $25,000. Zions Bancorporation National Association UT lifted its position in shares of AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of AvalonBay Communities in the third quarter worth about $30,000. BOKF NA bought a new position in AvalonBay Communities during the third quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC purchased a new position in AvalonBay Communities during the 4th quarter valued at approximately $32,000. Institutional investors own 92.61% of the company’s stock.
AvalonBay Communities Company Profile
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.