AvalonBay Communities, Inc. (NYSE:AVB) Receives $195.56 Consensus Price Target from Brokerages

Posted by Defense World Staff on Oct 9th, 2023

AvalonBay Communities, Inc. (NYSE:AVB – Get Free Report) has earned an average rating of “Hold” from the seventeen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $195.56.

AVB has been the subject of several analyst reports. Truist Financial boosted their target price on shares of AvalonBay Communities from $190.00 to $211.00 in a research note on Wednesday, June 14th. KeyCorp boosted their target price on shares of AvalonBay Communities from $193.00 to $205.00 in a research note on Wednesday, July 12th. Wedbush initiated coverage on shares of AvalonBay Communities in a research note on Tuesday, October 3rd. They issued a “neutral” rating and a $179.00 target price for the company. Colliers Securities raised shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 target price for the company in a research note on Thursday, September 14th. Finally, Royal Bank of Canada upped their price objective on shares of AvalonBay Communities from $193.00 to $195.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd.

View Our Latest Analysis on AvalonBay Communities

Insider Activity

In other news, EVP Joanne M. Lockridge sold 3,331 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $186.25, for a total transaction of $620,398.75. Following the transaction, the executive vice president now directly owns 21,558 shares of the company’s stock, valued at $4,015,177.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVB. Cetera Advisor Networks LLC boosted its position in shares of AvalonBay Communities by 8.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $369,000 after purchasing an additional 113 shares during the period. Private Advisor Group LLC boosted its position in AvalonBay Communities by 18.0% during the 1st quarter. Private Advisor Group LLC now owns 2,007 shares of the real estate investment trust’s stock worth $499,000 after acquiring an additional 306 shares during the period. Prudential PLC acquired a new stake in AvalonBay Communities during the 1st quarter worth about $704,000. Cetera Investment Advisers boosted its position in AvalonBay Communities by 54.4% during the 1st quarter. Cetera Investment Advisers now owns 5,260 shares of the real estate investment trust’s stock worth $1,306,000 after acquiring an additional 1,853 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its position in AvalonBay Communities by 7.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 12,461 shares of the real estate investment trust’s stock worth $3,095,000 after acquiring an additional 901 shares during the period. Institutional investors own 88.71% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $172.00 on Friday. The firm’s fifty day simple moving average is $180.10 and its 200-day simple moving average is $180.18. AvalonBay Communities has a 12 month low of $153.07 and a 12 month high of $198.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a market capitalization of $24.43 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.80 and a beta of 0.93.

AvalonBay Communities (NYSE:AVB – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.01). The firm had revenue of $690.86 million during the quarter, compared to analysts’ expectations of $675.67 million. AvalonBay Communities had a net margin of 46.32% and a return on equity of 11.01%. During the same quarter last year, the business earned $2.43 earnings per share. As a group, equities analysts forecast that AvalonBay Communities will post 10.58 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 3.84%. The ex-dividend date is Thursday, September 28th. AvalonBay Communities’s dividend payout ratio is presently 74.24%.

AvalonBay Communities Company Profile

(Get Free Report

As of June 30, 2023, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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.