Zelman & Associates upgraded shares of AvalonBay Communities (NYSE:AVB) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Several other research firms also recently issued reports on AVB. Robert W. Baird reaffirmed a buy rating and set a $187.00 price target on shares of AvalonBay Communities in a research note on Tuesday, January 9th. Stifel Nicolaus dropped their price target on shares of AvalonBay Communities from $209.00 to $200.00 and set a buy rating on the stock in a research note on Wednesday, November 1st. Sandler O’Neill downgraded shares of AvalonBay Communities from a buy rating to a hold rating in a research note on Friday, February 2nd. Barclays dropped their price target on shares of AvalonBay Communities from $189.00 to $186.00 and set an equal weight rating on the stock in a research note on Tuesday, January 30th. Finally, Zacks Investment Research raised shares of AvalonBay Communities from a sell rating to a hold rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $194.82.

Shares of AvalonBay Communities (AVB) opened at $158.75 on Friday. AvalonBay Communities has a one year low of $154.82 and a one year high of $199.52. The stock has a market cap of $21,920.00, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.45 and a beta of 0.34. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $1.03. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The firm had revenue of $555.29 million for the quarter, compared to the consensus estimate of $554.20 million. During the same quarter in the previous year, the firm posted $2.12 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. analysts expect that AvalonBay Communities will post 9.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be issued a dividend of $1.47 per share. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. This represents a $5.88 annualized dividend and a yield of 3.70%. The ex-dividend date is Wednesday, March 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 89.45%.

In other AvalonBay Communities news, CEO Timothy J. Naughton sold 25,160 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total transaction of $4,625,414.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sean J. Breslin sold 1,500 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total transaction of $273,975.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,660 shares of company stock valued at $5,628,669. 0.46% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. WFG Advisors LP grew its holdings in AvalonBay Communities by 24.9% during the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 167 shares in the last quarter. Phocas Financial Corp. boosted its holdings in shares of AvalonBay Communities by 1.6% in the 2nd quarter. Phocas Financial Corp. now owns 13,396 shares of the real estate investment trust’s stock valued at $2,574,000 after buying an additional 207 shares during the period. Amalgamated Bank boosted its holdings in shares of AvalonBay Communities by 1.9% in the 3rd quarter. Amalgamated Bank now owns 15,805 shares of the real estate investment trust’s stock valued at $2,820,000 after buying an additional 292 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of AvalonBay Communities by 6.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,186 shares of the real estate investment trust’s stock valued at $929,000 after buying an additional 300 shares during the period. Finally, DnB Asset Management AS boosted its holdings in shares of AvalonBay Communities by 2.1% in the 4th quarter. DnB Asset Management AS now owns 14,778 shares of the real estate investment trust’s stock valued at $2,637,000 after buying an additional 300 shares during the period. 95.21% of the stock is owned by institutional investors.

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About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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