AvalonBay Communities Inc (NYSE:AVB) announced a quarterly dividend on Tuesday, September 18th, RTT News reports. Investors of record on Friday, September 28th will be paid a dividend of 1.47 per share by the real estate investment trust on Monday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.19%.

AvalonBay Communities has raised its dividend payment by an average of 7.2% per year over the last three years and has increased its dividend every year for the last 6 years. AvalonBay Communities has a payout ratio of 65.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AvalonBay Communities to earn $9.29 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 63.3%.

NYSE:AVB traded down $0.65 during mid-day trading on Tuesday, hitting $184.08. The stock had a trading volume of 398,666 shares, compared to its average volume of 714,991. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.68 and a beta of 0.33. AvalonBay Communities has a twelve month low of $152.65 and a twelve month high of $188.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, July 30th. The real estate investment trust reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by ($0.36). The firm had revenue of $569.24 million during the quarter, compared to analyst estimates of $565.41 million. AvalonBay Communities had a net margin of 39.01% and a return on equity of 8.42%. During the same period last year, the business earned $2.09 EPS. equities analysts anticipate that AvalonBay Communities will post 8.99 EPS for the current year.

In other news, COO Sean J. Breslin sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $182.20, for a total transaction of $1,311,840.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $179.85, for a total transaction of $359,700.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Several equities analysts have commented on AVB shares. Deutsche Bank increased their price target on shares of AvalonBay Communities from $186.00 to $192.00 and gave the company a “hold” rating in a research note on Wednesday, September 5th. Argus increased their price target on shares of AvalonBay Communities to $196.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Robert W. Baird lowered shares of AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price target on the stock. in a research note on Wednesday, August 15th. Zelman & Associates lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, Mizuho reiterated a “buy” rating and issued a $212.00 price target on shares of AvalonBay Communities in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. AvalonBay Communities has an average rating of “Hold” and a consensus target price of $192.50.

AvalonBay Communities Company Profile

As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Dividend History for AvalonBay Communities (NYSE:AVB)

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