AvalonBay Communities (NYSE:AVB - Free Report) had its target price lowered by Barclays from $230.00 to $226.00 in a report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust's stock.
A number of other brokerages have also recently weighed in on AVB. JPMorgan Chase & Co. upgraded AvalonBay Communities from a "neutral" rating to an "overweight" rating and raised their price target for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Evercore ISI raised their price target 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. Royal Bank of Canada raised their price target on AvalonBay Communities from $226.00 to $229.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Piper Sandler dropped their price target on AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research report on Tuesday, February 11th. Finally, Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $235.47.
Get Our Latest Research Report on AvalonBay Communities
AvalonBay Communities Price Performance
NYSE:AVB traded down $0.60 during trading hours on Wednesday, hitting $218.78. The company's stock had a trading volume of 587,134 shares, compared to its average volume of 622,034. The business's 50-day moving average is $218.91 and its two-hundred day moving average is $222.76. The company has a market capitalization of $31.12 billion, a PE ratio of 28.82, a PEG ratio of 3.09 and a beta of 0.99. 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 has a 52-week low of $172.85 and a 52-week high of $239.29.
AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) 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%. As a group, research analysts anticipate that AvalonBay Communities will post 11.48 EPS for the current fiscal year.
AvalonBay Communities Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.75 per share. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a yield of 3.20%. This is a positive change from AvalonBay Communities's previous quarterly dividend of $1.70. AvalonBay Communities's payout ratio is currently 92.23%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in AVB. Norges Bank acquired a new position in AvalonBay Communities during the 4th quarter worth $1,499,050,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in AvalonBay Communities by 678.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust's stock worth $386,315,000 after acquiring an additional 1,494,872 shares during the period. Price T Rowe Associates Inc. MD boosted its position in AvalonBay Communities by 35.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock worth $1,133,328,000 after acquiring an additional 1,336,698 shares during the period. Northern Trust Corp boosted its position in AvalonBay Communities by 54.8% during the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust's stock worth $581,324,000 after acquiring an additional 935,770 shares during the period. Finally, Wellington Management Group LLP boosted its position in AvalonBay Communities by 49.9% during the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock worth $547,500,000 after acquiring an additional 828,009 shares during the period. Institutional investors and hedge funds own 92.61% of the company's stock.
About AvalonBay Communities
(
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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.
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