Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Target Price at $237.40

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $237.47.

AVB has been the subject of a number of research reports. Morgan Stanley cut shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $236.00 to $223.00 in a research report on Friday, January 24th. Truist Financial lifted their target price on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Evercore ISI upped their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Zelman & Associates raised AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets downgraded AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a report on Friday, April 4th.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors have recently added to or reduced their stakes in the business. Wedmont Private Capital raised its stake in shares of AvalonBay Communities by 5.3% during the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust's stock worth $231,000 after buying an additional 55 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in AvalonBay Communities by 1.8% in the first quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust's stock worth $697,000 after acquiring an additional 58 shares in the last quarter. Signaturefd LLC lifted its holdings in AvalonBay Communities by 4.0% in the fourth quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock valued at $356,000 after acquiring an additional 62 shares during the period. Private Advisor Group LLC lifted its holdings in AvalonBay Communities by 2.6% in the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 63 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of AvalonBay Communities by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock worth $2,679,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

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AvalonBay Communities Stock Down 0.3 %

NYSE AVB traded down $0.64 during trading on Tuesday, reaching $192.95. 1,234,629 shares of the company's stock were exchanged, compared to its average volume of 688,948. The company has a 50 day moving average price of $213.02 and a two-hundred day moving average price of $219.81. The stock has a market cap of $27.47 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities has a 1 year low of $177.40 and a 1 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.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. On average, equities research analysts anticipate that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.75 per share. This is a boost from AvalonBay Communities's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, March 31st. AvalonBay Communities's dividend payout ratio 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.