AvalonBay Communities, Inc. (NYSE:AVB) Receives $195.85 Average PT from Analysts

AvalonBay Communities, Inc. (NYSE:AVB) has received an average rating of “Hold” from the twenty ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $195.85.

Several equities analysts have recently commented on the company. Smith Barney Citigroup upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Monday, April 19th. Royal Bank of Canada assumed coverage on AvalonBay Communities in a research note on Tuesday, March 30th. They set a “sector perform” rating and a $193.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $162.00 to $176.00 and gave the company a “sell” rating in a research note on Wednesday, May 26th. Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, March 23rd. Finally, Mizuho upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $231.00 target price on the stock in a research note on Thursday, June 3rd.

In related news, EVP Edward M. Schulman sold 1,271 shares of AvalonBay Communities stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $204.27, for a total transaction of $259,627.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin P. O’shea sold 3,000 shares of AvalonBay Communities stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $204.19, for a total value of $612,570.00. The disclosure for this sale can be found here. Insiders have sold 5,265 shares of company stock worth $1,083,860 in the last 90 days. Insiders own 0.36% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $27,000. First Horizon Advisors Inc. acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $33,000. Carroll Financial Associates Inc. acquired a new stake in shares of AvalonBay Communities during the first quarter worth about $42,000. Arlington Partners LLC acquired a new stake in shares of AvalonBay Communities during the first quarter worth about $42,000. Finally, Parallel Advisors LLC lifted its holdings in shares of AvalonBay Communities by 28.7% during the first quarter. Parallel Advisors LLC now owns 242 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 54 shares during the period. 86.70% of the stock is owned by hedge funds and other institutional investors.

Shares of AvalonBay Communities stock opened at $214.66 on Tuesday. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 9.42 and a beta of 0.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.63 and a current ratio of 0.63. AvalonBay Communities has a 12 month low of $131.38 and a 12 month high of $216.64. The company’s fifty day moving average price is $196.94.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.92). The firm had revenue of $497.44 million for the quarter, compared to analysts’ expectations of $544.98 million. AvalonBay Communities had a net margin of 35.63% and a return on equity of 7.47%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.39 EPS. As a group, research analysts forecast that AvalonBay Communities will post 7.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be paid a dividend of $1.59 per share. The ex-dividend date is Tuesday, June 29th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 2.96%. AvalonBay Communities’s payout ratio is 73.19%.

About AvalonBay Communities

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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 markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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