AvalonBay Communities, Inc. (NYSE:AVB) Receives $225.88 Average Target Price from Brokerages

AvalonBay Communities, Inc. (NYSE:AVB) has been assigned an average recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $225.88.

Several brokerages have recently weighed in on AVB. Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. BNP Paribas initiated coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. upped their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Finally, UBS Group upped their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th.

AvalonBay Communities Trading Down 1.3 %

NYSE AVB opened at $224.15 on Tuesday. The stock has a market capitalization of $31.87 billion, a P/E ratio of 33.36, a P/E/G ratio of 3.33 and a beta of 0.97. The business has a 50 day simple moving average of $223.80 and a 200 day simple moving average of $207.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities has a one year low of $160.45 and a one year high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period last year, the business earned $2.66 EPS. Research analysts expect that AvalonBay Communities will post 11.01 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.03%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Insider Transactions at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its stake in shares of AvalonBay Communities by 6.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,321 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 138 shares during the period. Foundations Investment Advisors LLC purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $210,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of AvalonBay Communities by 147.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 721 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 430 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of AvalonBay Communities by 3.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,776 shares of the real estate investment trust’s stock worth $1,752,000 after buying an additional 263 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of AvalonBay Communities by 115.2% in the third quarter. Blue Trust Inc. now owns 2,668 shares of the real estate investment trust’s stock valued at $552,000 after acquiring an additional 1,428 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.