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

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given a consensus rating of “Hold” by the eighteen analysts that are currently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $228.67.

AVB has been the topic of several research analyst reports. Scotiabank decreased their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th.

Insider Transactions at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares of the company’s stock, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On AvalonBay Communities

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its holdings in AvalonBay Communities by 11.6% in the 3rd quarter. Franklin Resources Inc. now owns 212,338 shares of the real estate investment trust’s stock worth $47,056,000 after buying an additional 22,076 shares in the last quarter. Tidal Investments LLC increased its position in shares of AvalonBay Communities by 18.9% during the third quarter. Tidal Investments LLC now owns 76,652 shares of the real estate investment trust’s stock worth $17,266,000 after acquiring an additional 12,165 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of AvalonBay Communities in the third quarter worth about $126,000. Unigestion Holding SA purchased a new position in AvalonBay Communities in the third quarter valued at about $578,000. Finally, Toronto Dominion Bank grew its stake in AvalonBay Communities by 1.4% during the 3rd quarter. Toronto Dominion Bank now owns 70,650 shares of the real estate investment trust’s stock valued at $15,914,000 after purchasing an additional 964 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $226.55 on Wednesday. The stock’s 50-day moving average price is $226.75 and its 200 day moving average price is $216.43. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $32.22 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 3.33 and a beta of 0.98. AvalonBay Communities has a 52-week low of $169.37 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter last year, the business earned $2.66 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is currently 93.02%.

AvalonBay Communities Company Profile

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.