AvalonBay Communities, Inc. (NYSE:AVB) Given Consensus Rating of “Hold” by Analysts

AvalonBay Communities, Inc. (NYSE:AVB) has earned a consensus rating of “Hold” from the eighteen research firms that are currently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $207.17.

A number of equities research analysts have recently weighed in on AVB shares. Scotiabank lifted their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Evercore ISI lifted their price objective on AvalonBay Communities from $205.00 to $207.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 9th. Morgan Stanley lifted their price objective on AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Finally, Piper Sandler lifted their price target on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, April 29th.

AvalonBay Communities Price Performance

AVB opened at $201.91 on Friday. The stock’s 50 day simple moving average is $199.26 and its 200 day simple moving average is $187.94. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $208.45. The firm has a market cap of $28.71 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.96 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The company had revenue of $712.86 million for the quarter, compared to the consensus estimate of $706.61 million. During the same quarter in the previous year, the business earned $2.57 earnings per share. As a group, analysts predict that AvalonBay Communities will post 10.92 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, June 28th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AVB. Opal Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities in the second quarter worth $32,000. Byrne Asset Management LLC raised its stake in shares of AvalonBay Communities by 270.0% in the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 135 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in shares of AvalonBay Communities in the first quarter worth $39,000. Finally, Pinnacle Bancorp Inc. raised its stake in shares of AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

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.