AvalonBay Communities Inc. (AVB) Receives Average Recommendation of “Hold” from Brokerages
AvalonBay Communities Inc. (NYSE:AVB) has received a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $194.36.
AVB has been the topic of a number of research reports. Sandler O’Neill raised AvalonBay Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Jefferies Group reaffirmed a “hold” rating on shares of AvalonBay Communities in a research note on Tuesday, September 6th. Deutsche Bank AG reduced their price objective on AvalonBay Communities from $194.00 to $193.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. BTIG Research assumed coverage on AvalonBay Communities in a report on Thursday, August 25th. They issued a “buy” rating and a $208.00 target price for the company. Finally, Zacks Investment Research cut AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. raised its position in AvalonBay Communities by 32.5% in the third quarter. Brookfield Asset Management Inc. now owns 861,117 shares of the real estate investment trust’s stock valued at $153,141,000 after buying an additional 211,367 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in AvalonBay Communities by 6.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,418,752 shares of the real estate investment trust’s stock valued at $607,991,000 after buying an additional 213,856 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in AvalonBay Communities during the third quarter valued at approximately $1,002,000. Credit Suisse AG raised its position in AvalonBay Communities by 3.9% in the third quarter. Credit Suisse AG now owns 622,380 shares of the real estate investment trust’s stock valued at $110,685,000 after buying an additional 23,093 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in AvalonBay Communities by 21.0% in the third quarter. Ameritas Investment Partners Inc. now owns 3,282 shares of the real estate investment trust’s stock valued at $584,000 after buying an additional 570 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.
Shares of AvalonBay Communities (NYSE:AVB) traded up 1.30% during trading on Tuesday, hitting $165.55. The company had a trading volume of 325,954 shares. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $192.29. The stock’s 50-day moving average price is $167.28 and its 200 day moving average price is $175.48. The company has a market capitalization of $22.73 billion, a P/E ratio of 24.02 and a beta of 0.39.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $2.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.11. AvalonBay Communities had a return on equity of 9.57% and a net margin of 50.39%. During the same period in the prior year, the business posted $2.02 EPS. On average, equities research analysts forecast that AvalonBay Communities will post $8.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 16th. Stockholders of record on Friday, December 30th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.36%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, December 28th. AvalonBay Communities’s payout ratio is presently 78.37%.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust. The Company focuses 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.
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