AvalonBay Communities, Inc. (NYSE:AVB) Given Average Recommendation of “Hold” by Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $225.88.

A number of brokerages have weighed in on AVB. UBS Group lifted their price target on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Scotiabank raised their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Piper Sandler boosted their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th.

Insider Buying and Selling at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction 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 directly owns 4,383 shares in the company, valued at $908,026.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of the 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 completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors have recently bought and sold shares of the stock. SYSTM Wealth Solutions LLC boosted its holdings in AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 49 shares during the last quarter. Mather Group LLC. boosted its holdings in AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares during the last quarter. Checchi Capital Advisers LLC grew its position in AvalonBay Communities by 4.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 59 shares in the last quarter. Mechanics Bank Trust Department increased its stake in AvalonBay Communities by 0.3% in the 2nd quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 60 shares during the last quarter. Finally, SVB Wealth LLC lifted its position in shares of AvalonBay Communities by 1.1% during the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock worth $1,026,000 after buying an additional 62 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $221.66 on Tuesday. The stock’s fifty day moving average price is $222.19 and its two-hundred day moving average price is $205.73. The firm has a market cap of $31.52 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. 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 posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share 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 firm had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. During the same period in the prior year, the company earned $2.66 EPS. As a group, research analysts expect that AvalonBay Communities will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company 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 $1.70 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.07%. AvalonBay Communities’s payout ratio is currently 101.19%.

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.