AvalonBay Communities (NYSE:AVB) Rating Increased to Outperform at Mizuho

Mizuho upgraded shares of AvalonBay Communities (NYSE:AVB - Free Report) from a neutral rating to an outperform rating in a report released on Monday morning, Marketbeat Ratings reports. They currently have $242.00 target price on the real estate investment trust's stock, up from their prior target price of $239.00.

A number of other equities research analysts have also commented on AVB. Scotiabank lowered their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating for the company in a report on Thursday, November 14th. BNP Paribas began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an "outperform" rating and a $250.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Evercore ISI upped their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Finally, Barclays initiated coverage on AvalonBay Communities in a research report on Tuesday, December 17th. They issued an "equal weight" rating and a $243.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $234.53.

AvalonBay Communities Trading Down 3.1 %

Shares of AVB stock traded down $6.78 on Monday, hitting $212.39. 540,414 shares of the company's stock traded hands, compared to its average volume of 474,635. 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 stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 3.30 and a beta of 0.99. The company's fifty day simple moving average is $226.28 and its 200 day simple moving average is $220.15. AvalonBay Communities has a one year low of $169.37 and a one year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the business posted $2.66 earnings per share. Equities analysts forecast that AvalonBay Communities will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued 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 3.20%. AvalonBay Communities's payout ratio is 93.02%.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvalonBay Communities

Several institutional investors and hedge funds have recently made changes to their positions in AVB. RPg Family Wealth Advisory LLC purchased a new stake in AvalonBay Communities during the 3rd quarter valued at $26,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities during the third quarter valued at $39,000. Mather Group LLC. boosted its position in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 56 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Global X Japan Co. Ltd. purchased a new position in AvalonBay Communities in the 2nd quarter worth about $70,000. Institutional investors 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.