AvalonBay Communities, Inc. (NYSE:AVB) Receives Average Rating of “Hold” from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given a consensus rating of “Hold” by the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $210.59.

AVB has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI raised their target price on AvalonBay Communities from $205.00 to $207.00 and gave the company an “in-line” rating in a research note on Tuesday, July 9th. Mizuho upped their price target on AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Royal Bank of Canada increased their price target on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, Barclays boosted their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $207.82 on Thursday. The business has a 50-day moving average price of $203.26 and a two-hundred day moving average price of $190.89. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $218.79. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. The company has a market cap of $29.55 billion, a P/E ratio of 30.93, a PEG ratio of 3.09 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period in the prior year, the business earned $2.66 EPS. As a group, analysts anticipate that AvalonBay Communities will post 10.97 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.27%. AvalonBay Communities’s payout ratio is presently 101.19%.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of AvalonBay Communities

Hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities in the 2nd quarter worth approximately $32,000. Byrne Asset Management LLC increased its position in AvalonBay Communities by 270.0% in the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 135 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 169 shares during the period. BROOKFIELD Corp ON purchased a new position in shares of AvalonBay Communities during the 1st quarter valued at $39,000. Finally, Pinnacle Bancorp Inc. lifted its position in shares of AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

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.