AvalonBay Communities Inc (NYSE:AVB) Given Consensus Rating of “Hold” by Analysts

Shares of AvalonBay Communities Inc (NYSE:AVB) have been assigned an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $213.79.

A number of research firms recently commented on AVB. Barclays dropped their price objective on AvalonBay Communities from $228.00 to $226.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $214.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. SunTrust Banks lifted their price objective on AvalonBay Communities from $211.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. They noted that the move was a valuation call. Citigroup lifted their price objective on AvalonBay Communities from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley lifted their price objective on AvalonBay Communities from $217.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th.

In other AvalonBay Communities news, EVP Edward M. Schulman sold 1,301 shares of AvalonBay Communities stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $213.47, for a total value of $277,724.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William M. Mclaughlin sold 2,500 shares of AvalonBay Communities stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $215.11, for a total value of $537,775.00. The disclosure for this sale can be found here. Insiders sold a total of 5,801 shares of company stock valued at $1,243,499 in the last 90 days. 0.42% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hancock Whitney Corp acquired a new stake in shares of AvalonBay Communities in the second quarter valued at $227,000. Keudell Morrison Wealth Management purchased a new stake in shares of AvalonBay Communities during the second quarter valued at $1,963,000. Treasurer of the State of North Carolina lifted its holdings in shares of AvalonBay Communities by 0.6% during the second quarter. Treasurer of the State of North Carolina now owns 70,718 shares of the real estate investment trust’s stock valued at $14,368,000 after purchasing an additional 433 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of AvalonBay Communities by 5.1% during the second quarter. Mackenzie Financial Corp now owns 19,796 shares of the real estate investment trust’s stock valued at $4,022,000 after purchasing an additional 967 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in shares of AvalonBay Communities by 0.6% during the second quarter. Nomura Holdings Inc. now owns 20,179 shares of the real estate investment trust’s stock valued at $4,080,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 92.46% of the company’s stock.

NYSE AVB traded down $1.70 during trading on Friday, reaching $209.06. 850,917 shares of the company’s stock traded hands, compared to its average volume of 542,154. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $29.43 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 3.89 and a beta of 0.52. The company’s 50 day simple moving average is $208.46 and its two-hundred day simple moving average is $204.46. AvalonBay Communities has a 12-month low of $167.01 and a 12-month high of $216.80.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($1.10). The business had revenue of $577.26 million for the quarter, compared to analysts’ expectations of $572.69 million. AvalonBay Communities had a net margin of 41.83% and a return on equity of 8.63%. During the same period last year, the business posted $2.23 EPS. Research analysts expect that AvalonBay Communities will post 9.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $1.52 dividend. This represents a $6.08 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, September 27th. AvalonBay Communities’s dividend payout ratio (DPR) is 67.56%.

AvalonBay Communities Company Profile

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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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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