AvalonBay Communities, Inc. (NYSE:AVB) Receives $197.03 Consensus Target Price from Analysts

AvalonBay Communities, Inc. (NYSE:AVBGet Free Report) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $197.03.

Several research firms have weighed in on AVB. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $191.00 target price on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Truist Financial reduced their price target on shares of AvalonBay Communities from $203.00 to $201.00 and set a “hold” rating for the company in a research report on Thursday, March 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $185.00 price objective on shares of AvalonBay Communities in a research note on Friday, February 2nd. Finally, Piper Sandler restated an “overweight” rating and set a $207.00 target price on shares of AvalonBay Communities in a research report on Tuesday, March 26th.

View Our Latest Report on AvalonBay Communities

AvalonBay Communities Price Performance

Shares of AVB opened at $185.56 on Friday. The stock has a market capitalization of $26.35 billion, a PE ratio of 28.33, a PEG ratio of 3.45 and a beta of 0.92. The company has a 50 day moving average price of $179.24 and a 200-day moving average price of $177.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. AvalonBay Communities has a fifty-two week low of $159.57 and a fifty-two week high of $198.65.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing the consensus estimate of $2.73 by ($1.03). The business had revenue of $704.71 million for the quarter, compared to analysts’ expectations of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same quarter in the prior year, the company posted $2.59 EPS. Equities analysts predict that AvalonBay Communities will post 10.82 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 dividend on an annualized basis and a yield of 3.66%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 103.82%.

Insider Transactions at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Kevin P. O’shea sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at approximately $5,812,330.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On AvalonBay Communities

A number of hedge funds have recently modified their holdings of the company. Cetera Advisor Networks LLC grew its position in AvalonBay Communities by 8.2% in the first quarter. Cetera Advisor Networks LLC now owns 1,485 shares of the real estate investment trust’s stock worth $369,000 after acquiring an additional 113 shares during the period. Private Advisor Group LLC increased its position in shares of AvalonBay Communities by 18.0% during the 1st quarter. Private Advisor Group LLC now owns 2,007 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 306 shares during the last quarter. Prudential PLC purchased a new stake in AvalonBay Communities in the 1st quarter valued at about $704,000. Cetera Investment Advisers lifted its position in AvalonBay Communities by 54.4% in the first quarter. Cetera Investment Advisers now owns 5,260 shares of the real estate investment trust’s stock valued at $1,306,000 after buying an additional 1,853 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in AvalonBay Communities by 7.8% during the first quarter. Candriam Luxembourg S.C.A. now owns 12,461 shares of the real estate investment trust’s stock worth $3,095,000 after buying an additional 901 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

(Get Free Report

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.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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