AvalonBay Communities (NYSE:AVB) Now Covered by Analysts at Barclays

Barclays started coverage on shares of AvalonBay Communities (NYSE:AVB - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $243.00 target price on the real estate investment trust's stock.

A number of other research firms have also weighed in on AVB. Zelman & Associates raised shares of AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. BNP Paribas began coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They set an "outperform" rating and a $250.00 target price on the stock. Royal Bank of Canada reduced their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Evercore ISI upped their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $247.00 to $262.00 in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $231.33.

AvalonBay Communities Stock Down 0.2 %

Shares of NYSE AVB traded down $0.56 on Tuesday, reaching $226.94. 761,191 shares of the company's stock traded hands, compared to its average volume of 710,272. 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 business's 50 day simple moving average is $227.34 and its two-hundred day simple moving average is $217.87. AvalonBay Communities has a 12 month low of $169.37 and a 12 month high of $239.29. The company has a market cap of $32.28 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its 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). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million for the quarter, compared to analysts' expectations of $731.67 million. During the same quarter in the prior year, the business posted $2.66 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business 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 dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

Insider Activity at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was 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 owns 87,239 shares in the company, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVB. Raymond James & Associates boosted its holdings in shares of AvalonBay Communities by 0.7% in the 2nd quarter. Raymond James & Associates now owns 158,780 shares of the real estate investment trust's stock valued at $32,850,000 after buying an additional 1,048 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of AvalonBay Communities in the second quarter valued at $284,000. &PARTNERS acquired a new position in shares of AvalonBay Communities in the 2nd quarter valued at $1,538,000. Premier Path Wealth Partners LLC acquired a new position in shares of AvalonBay Communities in the second quarter worth about $226,000. Finally, Everhart Financial Group Inc. acquired a new stake in AvalonBay Communities during the 2nd quarter valued at $295,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

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.