Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) Price Target at $227.06

Shares of AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) have earned a consensus rating of "Hold" from the eighteen research firms that are covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $227.06.

A number of equities analysts recently issued reports on the company. UBS Group raised their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Piper Sandler boosted their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Finally, Royal Bank of Canada reduced their price objective on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research report on Wednesday.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock traded up $5.71 during trading hours on Friday, reaching $233.75. The company's stock had a trading volume of 782,641 shares, compared to its average volume of 691,283. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities has a one year low of $164.76 and a one year high of $236.26. The firm has a 50 day moving average price of $225.92 and a 200-day moving average price of $211.05. The stock has a market cap of $33.24 billion, a P/E ratio of 31.98, a P/E/G ratio of 3.41 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same period in the prior year, the firm posted $2.66 EPS. On average, analysts predict that AvalonBay Communities will post 11.04 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 2.91%. AvalonBay Communities's dividend payout ratio is currently 93.02%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in AvalonBay Communities by 24.2% in the 1st quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust's stock worth $340,000 after buying an additional 357 shares during the last quarter. Tectonic Advisors LLC increased its position in shares of AvalonBay Communities by 15.0% in the 1st quarter. Tectonic Advisors LLC now owns 1,733 shares of the real estate investment trust's stock valued at $322,000 after buying an additional 226 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of AvalonBay Communities during the 1st quarter worth about $5,172,000. Sei Investments Co. raised its stake in AvalonBay Communities by 2.2% in the first quarter. Sei Investments Co. now owns 268,461 shares of the real estate investment trust's stock valued at $49,816,000 after purchasing an additional 5,786 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in AvalonBay Communities by 774.0% during the 1st quarter. Headlands Technologies LLC now owns 874 shares of the real estate investment trust's stock worth $162,000 after purchasing an additional 774 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

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.