AvalonBay Communities Inc (AVB) Price Target Raised to $188.00

AvalonBay Communities Inc (NYSE:AVB) had its price target hoisted by stock analysts at Barclays PLC from $174.00 to $188.00 in a research note issued on Wednesday. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays PLC’s price target points to a potential upside of 0.51% from the stock’s previous close.

AVB has been the topic of several other research reports. Zelman & Associates cut shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Monday, February 13th. Mizuho reiterated a “buy” rating and issued a $190.00 price target on shares of AvalonBay Communities in a research note on Tuesday, February 7th. Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Friday, January 6th. Bank of America Corp upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 price target on the stock in a research note on Wednesday, March 8th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $183.00 price target on shares of AvalonBay Communities in a research note on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. AvalonBay Communities presently has a consensus rating of “Hold” and a consensus price target of $191.91.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

AvalonBay Communities (NYSE:AVB) traded down 0.53% during trading on Wednesday, reaching $187.04. The company had a trading volume of 565,768 shares. The firm’s 50 day moving average price is $184.27 and its 200 day moving average price is $175.04. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $192.29. The firm has a market capitalization of $25.69 billion, a PE ratio of 24.87 and a beta of 0.33.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $2.12 EPS for the quarter, topping the consensus estimate of $1.18 by $0.94. The business had revenue of $518.24 million for the quarter, compared to analysts’ expectations of $517.45 million. AvalonBay Communities had a net margin of 50.56% and a return on equity of 10.36%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 EPS. Equities research analysts forecast that AvalonBay Communities will post $4.52 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.04%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Wednesday, March 29th. AvalonBay Communities’s dividend payout ratio is currently 71.81%.

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In related news, CFO Kevin P. O’shea sold 3,560 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $182.19, for a total transaction of $648,596.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leo S. Horey III sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $183.50, for a total transaction of $183,500.00. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Conning Inc. increased its position in shares of AvalonBay Communities by 0.7% in the third quarter. Conning Inc. now owns 4,290 shares of the real estate investment trust’s stock valued at $763,000 after buying an additional 30 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of AvalonBay Communities by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,872 shares of the real estate investment trust’s stock valued at $1,395,000 after buying an additional 30 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of AvalonBay Communities by 0.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 19,792 shares of the real estate investment trust’s stock valued at $3,506,000 after buying an additional 50 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of AvalonBay Communities by 2.7% in the third quarter. Suntrust Banks Inc. now owns 3,133 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 83 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of AvalonBay Communities by 10.8% in the third quarter. Advisor Group Inc. now owns 1,692 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 165 shares during the last quarter. Institutional investors own 97.05% of the company’s stock.

AvalonBay Communities Company Profile

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.

5 Day Chart for NYSE:AVB

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