AvalonBay Communities Inc (NYSE:AVB) Receives $198.71 Average Target Price from Analysts
AvalonBay Communities Inc (NYSE:AVB) has earned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $198.71.
A number of research firms recently weighed in on AVB. SunTrust Banks lowered their price objective on shares of AvalonBay Communities from $216.00 to $193.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Piper Sandler upped their price objective on shares of AvalonBay Communities from $140.00 to $145.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 26th. Stifel Nicolaus upped their price objective on shares of AvalonBay Communities from $171.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. TheStreet lowered shares of AvalonBay Communities from a “b-” rating to a “c+” rating in a research note on Thursday, March 19th. Finally, Morgan Stanley lowered their price objective on shares of AvalonBay Communities from $226.00 to $143.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st.
Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in AvalonBay Communities by 16.3% in the 4th quarter. Victory Capital Management Inc. now owns 108,238 shares of the real estate investment trust’s stock worth $22,698,000 after buying an additional 15,175 shares during the period. Jennison Associates LLC increased its holdings in AvalonBay Communities by 3.0% in the 4th quarter. Jennison Associates LLC now owns 2,059 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 59 shares during the period. Cresset Asset Management LLC increased its holdings in AvalonBay Communities by 9.4% in the 4th quarter. Cresset Asset Management LLC now owns 1,395 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 120 shares during the period. Quantbot Technologies LP acquired a new position in AvalonBay Communities in the 4th quarter worth approximately $966,000. Finally, Banque Cantonale Vaudoise acquired a new position in AvalonBay Communities in the 4th quarter worth approximately $843,000. Hedge funds and other institutional investors own 90.91% of the company’s stock.
AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $1.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.19. AvalonBay Communities had a net margin of 33.20% and a return on equity of 7.21%. The firm had revenue of $547.51 million during the quarter, compared to analyst estimates of $596.58 million. During the same period in the previous year, the firm earned $1.23 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. On average, research analysts forecast that AvalonBay Communities will post 9.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.59 per share. The ex-dividend date is Monday, June 29th. This represents a $6.36 annualized dividend and a dividend yield of 4.11%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 68.09%.
About AvalonBay Communities
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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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