Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Price Target at $231.33

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $231.33.

Several equities research analysts have recently weighed in on the stock. BNP Paribas started coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price for the company. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Evercore ISI boosted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada decreased their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Finally, Scotiabank dropped their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the transaction, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors have recently modified their holdings of the company. American Assets Capital Advisers LLC purchased a new stake in AvalonBay Communities in the 3rd quarter worth approximately $1,014,000. 1832 Asset Management L.P. boosted its holdings in shares of AvalonBay Communities by 5.6% during the second quarter. 1832 Asset Management L.P. now owns 63,174 shares of the real estate investment trust’s stock worth $13,070,000 after purchasing an additional 3,350 shares during the last quarter. KBC Group NV grew its position in shares of AvalonBay Communities by 284.8% in the third quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust’s stock valued at $32,983,000 after purchasing an additional 108,371 shares during the period. Swedbank AB grew its position in shares of AvalonBay Communities by 46.6% in the third quarter. Swedbank AB now owns 34,791 shares of the real estate investment trust’s stock valued at $7,837,000 after purchasing an additional 11,064 shares during the period. Finally, Private Advisor Group LLC increased its stake in AvalonBay Communities by 15.3% in the third quarter. Private Advisor Group LLC now owns 2,449 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 325 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.1 %

AVB opened at $219.97 on Friday. The firm has a market cap of $31.29 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. AvalonBay Communities has a 52 week low of $169.37 and a 52 week high of $239.29. The business’s 50 day moving average is $227.20 and its two-hundred day moving average is $219.72. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business 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 company earned $2.66 EPS. On average, research analysts predict that AvalonBay Communities will post 11.03 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. AvalonBay Communities’s dividend 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.