Analysts Set AvalonBay Communities, Inc. (NYSE:AVB) Price Target at $238.64

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $238.64.

Several brokerages have issued reports on AVB. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Evercore ISI increased their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded AvalonBay Communities from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th.

Institutional Investors Weigh In On AvalonBay Communities

Large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of AvalonBay Communities during the 3rd quarter worth $26,000. Ancora Advisors LLC raised its holdings in shares of AvalonBay Communities by 1,666.7% during the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 150 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of AvalonBay Communities during the fourth quarter worth $36,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities during the third quarter worth $39,000. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of AvalonBay Communities during the fourth quarter worth $44,000. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Trading Up 0.8 %

Shares of AVB opened at $209.55 on Friday. The company has a market capitalization of $29.81 billion, a P/E ratio of 27.61, a P/E/G ratio of 3.11 and a beta of 1.00. AvalonBay Communities has a one year low of $177.40 and a one year high of $239.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a 50-day moving average price of $218.02 and a 200 day moving average price of $223.40.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Sell-side analysts forecast that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 3.34%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 92.23%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.