Royal Bank Of Canada Cuts AvalonBay Communities, Inc. (AVB) Price Target to $200.00

AvalonBay Communities, Inc. (NYSE:AVB) had its target price reduced by Royal Bank Of Canada from $206.00 to $200.00 in a research report sent to investors on Monday, November 6th, MarketBeat reports. Royal Bank Of Canada currently has an outperform rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of AvalonBay Communities from a buy rating to a hold rating in a research note on Tuesday, July 11th. Barclays PLC boosted their price objective on shares of AvalonBay Communities from $188.00 to $189.00 and gave the company an equal weight rating in a report on Tuesday, July 18th. BMO Capital Markets restated a hold rating and set a $191.00 price objective on shares of AvalonBay Communities in a report on Wednesday, August 2nd. Deutsche Bank AG boosted their price objective on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a hold rating in a report on Friday, August 18th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $209.00 price target on shares of AvalonBay Communities in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $199.27.

AvalonBay Communities (NYSE AVB) traded up $0.03 during midday trading on Monday, reaching $184.63. 202,135 shares of the company’s stock traded hands, compared to its average volume of 517,803. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities has a 52 week low of $159.96 and a 52 week high of $199.52. The firm has a market cap of $25,491.03, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.90 and a beta of 0.36.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The firm had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. During the same period in the prior year, the business earned $2.11 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts forecast that AvalonBay Communities will post 8.61 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.08%. AvalonBay Communities’s payout ratio is currently 88.75%.

A number of hedge funds and other institutional investors have recently modified their holdings of AVB. Creative Planning increased its stake in shares of AvalonBay Communities by 0.4% in the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 2 shares in the last quarter. Amica Retiree Medical Trust purchased a new position in shares of AvalonBay Communities in the 3rd quarter worth about $132,000. WFG Advisors LP boosted its holdings in shares of AvalonBay Communities by 24.9% in the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 167 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of AvalonBay Communities in the 2nd quarter worth about $201,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in AvalonBay Communities in the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 97.11% of the company’s stock.

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About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused 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.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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