AvalonBay Communities (AVB) Hits New 1-Year High at $203.57

AvalonBay Communities Inc (NYSE:AVB) reached a new 52-week high during trading on Thursday . The stock traded as high as $203.57 and last traded at $202.15, with a volume of 8585 shares. The stock had previously closed at $202.20.

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on AvalonBay Communities from $168.00 to $194.00 and gave the stock an “equal weight” rating in a report on Monday, December 17th. ValuEngine downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Monday, January 7th. SunTrust Banks boosted their target price on AvalonBay Communities to $208.00 and gave the stock an “average” rating in a report on Thursday, February 14th. Zacks Investment Research raised AvalonBay Communities from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Tuesday, January 15th. Finally, Citigroup downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $190.00 to $205.00 in a report on Thursday, February 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $197.94.

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $28.04 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.84 and a beta of 0.61.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, February 4th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by ($0.01). The business had revenue of $578.52 million during the quarter, compared to analysts’ expectations of $576.56 million. AvalonBay Communities had a return on equity of 9.33% and a net margin of 42.66%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, analysts forecast that AvalonBay Communities Inc will post 9.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.47. AvalonBay Communities’s dividend payout ratio is 67.56%.

In related news, CEO Timothy J. Naughton sold 67,789 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $196.41, for a total transaction of $13,314,437.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William M. Mclaughlin sold 2,500 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $199.76, for a total value of $499,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,837 shares of company stock valued at $18,248,863. 0.43% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in AvalonBay Communities by 2.5% in the fourth quarter. BlackRock Inc. now owns 15,700,948 shares of the real estate investment trust’s stock worth $2,732,748,000 after buying an additional 385,430 shares in the last quarter. FMR LLC increased its position in AvalonBay Communities by 4.9% in the fourth quarter. FMR LLC now owns 3,715,588 shares of the real estate investment trust’s stock worth $646,697,000 after buying an additional 172,264 shares in the last quarter. Northern Trust Corp increased its position in AvalonBay Communities by 3.2% in the fourth quarter. Northern Trust Corp now owns 2,417,118 shares of the real estate investment trust’s stock worth $420,700,000 after buying an additional 74,018 shares in the last quarter. Geode Capital Management LLC increased its position in AvalonBay Communities by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 2,297,292 shares of the real estate investment trust’s stock worth $399,297,000 after buying an additional 191,867 shares in the last quarter. Finally, Morgan Stanley increased its position in AvalonBay Communities by 6.0% in the third quarter. Morgan Stanley now owns 1,543,079 shares of the real estate investment trust’s stock worth $279,528,000 after buying an additional 87,440 shares in the last quarter. Institutional investors own 93.07% of the company’s stock.

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AvalonBay Communities Company Profile (NYSE:AVB)

As of December 31, 2018, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,158 apartment homes in 12 states and the District of Columbia, of which 21 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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