Brokerages Set AvalonBay Communities, Inc. (NYSE:AVB) PT at $228.67

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) has received an average recommendation of "Hold" from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $228.67.

AVB has been the subject of several research reports. Truist Financial increased their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They set an "outperform" rating and a $250.00 target price for the company. Royal Bank of Canada reduced their target price on shares of 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, 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 report on Monday, August 26th.

Insider Activity

In related news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction that occurred 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 sale, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of AvalonBay Communities by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 212,338 shares of the real estate investment trust's stock valued at $47,056,000 after acquiring an additional 22,076 shares during the period. Tidal Investments LLC lifted its position in shares of AvalonBay Communities by 18.9% during the 3rd quarter. Tidal Investments LLC now owns 76,652 shares of the real estate investment trust's stock valued at $17,266,000 after acquiring an additional 12,165 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at $126,000. Unigestion Holding SA acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at $578,000. Finally, Toronto Dominion Bank lifted its position in shares of 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 acquiring an additional 964 shares during the period. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Trading Down 0.2 %

NYSE:AVB traded down $0.55 during trading hours on Wednesday, hitting $227.87. The stock had a trading volume of 444,466 shares, compared to its average volume of 716,700. AvalonBay Communities has a one year low of $169.37 and a one year high of $239.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market cap of $32.41 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 3.37 and a beta of 0.98. The business's 50 day moving average is $226.76 and its 200-day moving average is $215.81.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. 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 company earned $2.66 EPS. Sell-side analysts anticipate that AvalonBay Communities will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.98%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio is currently 93.02%.

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.