AvalonBay Communities, Inc. (NYSE:AVB) Receives $223.12 Average Price Target from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received a consensus rating of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $223.12.

Several equities research analysts recently weighed in on AVB shares. Scotiabank lifted their price target on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Truist Financial upped their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company boosted their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Piper Sandler raised their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, UBS Group boosted their price target on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th.

Insider Buying and Selling

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities in the second quarter worth $32,000. Versant Capital Management Inc raised its holdings in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 169 shares during the period. BROOKFIELD Corp ON bought a new stake in AvalonBay Communities during the first quarter valued at about $39,000. Pinnacle Bancorp Inc. lifted its position 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 valued at $42,000 after acquiring an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 73 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $226.53 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm’s fifty day simple moving average is $218.54 and its 200 day simple moving average is $202.13. The stock has a market cap of $32.22 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97. AvalonBay Communities has a twelve month low of $160.45 and a twelve month high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The company had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the prior year, the firm earned $2.66 EPS. As a group, research analysts predict that AvalonBay Communities will post 11.01 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

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.