AvalonBay Communities (NYSE:AVB) Now Covered by Barclays

Barclays assumed coverage on shares of AvalonBay Communities (NYSE:AVB) in a research note released on Tuesday, MarketBeat reports. The firm issued an equal weight rating and a $243.00 price target on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on AVB. BNP Paribas assumed coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Royal Bank of Canada dropped their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Truist Financial upped their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Scotiabank dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $231.33.

AvalonBay Communities Stock Down 0.2 %

Shares of NYSE AVB opened at $226.94 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market cap of $32.28 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.30 and a beta of 0.98. AvalonBay Communities has a 52 week low of $169.37 and a 52 week high of $239.29. The business has a 50-day simple moving average of $227.51 and a two-hundred day simple moving average of $218.11.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter last year, the business posted $2.66 earnings per share. Research analysts anticipate that AvalonBay Communities will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now owns 111,436 shares of the company’s stock, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On AvalonBay Communities

Hedge funds and other institutional investors have recently modified their holdings of the company. Segment Wealth Management LLC increased its holdings in AvalonBay Communities by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 45 shares during the period. SYSTM Wealth Solutions LLC grew its position in shares of AvalonBay Communities by 2.7% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in shares of AvalonBay Communities by 4.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 50 shares during the period. Tectonic Advisors LLC raised its holdings in shares of AvalonBay Communities by 2.7% during the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 50 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in AvalonBay Communities by 4.6% in the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 55 shares during the period. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Company Profile

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.