UBS AG upgraded shares of AvalonBay Communities, Inc. (NYSE:AVB) from a neutral rating to a buy rating in a report published on Thursday, 99wallstreet.com reports. They currently have $206.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $190.00.
Several other research firms also recently issued reports on AVB. BidaskClub upgraded AvalonBay Communities from a sell rating to a hold rating in a research note on Thursday, August 3rd. BMO Capital Markets reaffirmed a hold rating and issued a $191.00 price objective on shares of AvalonBay Communities in a report on Wednesday, August 2nd. Deutsche Bank AG lifted their price objective on AvalonBay Communities from $193.00 to $195.00 and gave the company a hold rating in a report on Friday, August 18th. Barclays PLC lifted their price objective on AvalonBay Communities from $188.00 to $189.00 and gave the company an equal weight rating in a report on Tuesday, July 18th. Finally, Goldman Sachs Group, Inc. (The) cut AvalonBay Communities from a buy rating to a neutral rating and set a $196.00 price objective for the company. in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $199.27.
Shares of AvalonBay Communities (AVB) opened at $187.16 on Thursday. The stock has a market capitalization of $25,844.53, a price-to-earnings ratio of 22.05, a P/E/G ratio of 2.94 and a beta of 0.36. AvalonBay Communities has a one year low of $158.32 and a one year high of $199.52. 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 (NYSE:AVB) last released 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 Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The firm had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 earnings per share. equities analysts predict that AvalonBay Communities will post 8.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given 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 3.03%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 88.75%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of AvalonBay Communities by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 22,015,933 shares of the real estate investment trust’s stock valued at $4,230,802,000 after buying an additional 158,436 shares during the last quarter. BlackRock Inc. grew its position in shares of AvalonBay Communities by 1.1% in the 2nd quarter. BlackRock Inc. now owns 14,559,192 shares of the real estate investment trust’s stock valued at $2,797,838,000 after buying an additional 161,167 shares during the last quarter. FMR LLC grew its position in shares of AvalonBay Communities by 22.2% in the 2nd quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after buying an additional 969,095 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AvalonBay Communities by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock valued at $568,255,000 after buying an additional 276,035 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of AvalonBay Communities by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after purchasing an additional 138,649 shares in the last quarter. Hedge funds and other institutional investors own 96.85% of the company’s stock.
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.
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