AvalonBay Communities, Inc. (NYSE:AVB) Receives $225.88 Average Price Target from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are covering the stock, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $225.88.

Several research analysts have recently weighed in on AVB shares. Piper Sandler lifted their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company increased their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada lifted their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd.

Insider Activity at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. increased its stake in AvalonBay Communities by 487.8% in the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after acquiring an additional 298,322 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of AvalonBay Communities by 14.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after purchasing an additional 249,400 shares during the last quarter. SG Americas Securities LLC boosted its position in AvalonBay Communities by 4,563.7% during the 1st quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after buying an additional 208,240 shares during the period. Artemis Investment Management LLP purchased a new position in shares of AvalonBay Communities in the third quarter valued at about $29,256,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of AvalonBay Communities during the second quarter worth about $26,755,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.1 %

Shares of AVB opened at $225.41 on Tuesday. The stock’s 50-day moving average price is $223.17 and its two-hundred day moving average price is $206.27. AvalonBay Communities has a 12 month low of $160.45 and a 12 month high of $236.26. The company has a market capitalization of $32.05 billion, a PE ratio of 33.54, a PEG ratio of 3.33 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same period in the prior year, the firm earned $2.66 earnings per share. On average, analysts anticipate that AvalonBay Communities will post 11.01 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

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.