AvalonBay Communities, Inc. (NYSE:AVB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have earned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $238.64.

Several brokerages have recently weighed in on AVB. Evercore ISI upped their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Scotiabank lowered their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, Piper Sandler lowered their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th.

AvalonBay Communities Price Performance

Shares of AVB stock opened at $218.78 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $31.12 billion, a P/E ratio of 28.82, a P/E/G ratio of 3.09 and a beta of 0.99. The company’s 50-day simple moving average is $218.76 and its two-hundred day simple moving average is $222.86. AvalonBay Communities has a one year low of $172.85 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. As a group, equities analysts anticipate that AvalonBay Communities will post 11.48 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.75 dividend. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. Norges Bank purchased a new position in shares of AvalonBay Communities in the fourth quarter worth $1,499,050,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AvalonBay Communities by 678.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after buying an additional 1,494,872 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of AvalonBay Communities by 35.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock worth $1,133,328,000 after buying an additional 1,336,698 shares during the last quarter. Northern Trust Corp raised its holdings in shares of AvalonBay Communities by 54.8% in the fourth quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock worth $581,324,000 after buying an additional 935,770 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of AvalonBay Communities by 49.9% in the fourth quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust’s stock worth $547,500,000 after buying an additional 828,009 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.