AvalonBay Communities, Inc. (NYSE:AVB) Given Average Recommendation of “Buy” by Analysts

AvalonBay Communities, Inc. (NYSE:AVBGet Rating) has received an average recommendation of “Buy” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $259.40.

Several equities research analysts recently commented on the company. Scotiabank decreased their target price on AvalonBay Communities from $262.00 to $238.00 in a research note on Thursday, May 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on AvalonBay Communities from $285.00 to $272.00 and set a “buy” rating for the company in a research note on Thursday, March 24th. Truist Financial reduced their price objective on AvalonBay Communities from $266.00 to $263.00 and set a “hold” rating for the company in a research note on Monday, March 7th. Piper Sandler reduced their price objective on AvalonBay Communities from $265.00 to $240.00 in a research note on Wednesday, May 4th. Finally, StockNews.com began coverage on AvalonBay Communities in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

A number of institutional investors have recently modified their holdings of AVB. Vanguard Group Inc. raised its stake in shares of AvalonBay Communities by 1.7% in the first quarter. Vanguard Group Inc. now owns 22,760,053 shares of the real estate investment trust’s stock valued at $5,652,914,000 after buying an additional 390,568 shares during the period. BlackRock Inc. grew its position in shares of AvalonBay Communities by 6.3% in the fourth quarter. BlackRock Inc. now owns 15,215,579 shares of the real estate investment trust’s stock valued at $3,843,305,000 after purchasing an additional 898,161 shares in the last quarter. State Street Corp grew its position in shares of AvalonBay Communities by 3.5% in the first quarter. State Street Corp now owns 9,694,109 shares of the real estate investment trust’s stock valued at $2,422,751,000 after purchasing an additional 330,066 shares in the last quarter. Norges Bank purchased a new position in shares of AvalonBay Communities in the fourth quarter valued at $1,499,421,000. Finally, Principal Financial Group Inc. grew its position in shares of AvalonBay Communities by 1.5% in the first quarter. Principal Financial Group Inc. now owns 4,814,714 shares of the real estate investment trust’s stock valued at $1,195,830,000 after purchasing an additional 71,564 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

NYSE AVB traded up $4.60 during trading hours on Friday, hitting $190.99. 2,294,398 shares of the company’s stock were exchanged, compared to its average volume of 692,314. The stock has a 50-day simple moving average of $216.34 and a 200 day simple moving average of $234.97. AvalonBay Communities has a 1-year low of $183.35 and a 1-year high of $259.05. The firm has a market cap of $26.70 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 3.15 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $1.59 per share. The ex-dividend date is Wednesday, June 29th. This represents a $6.36 dividend on an annualized basis and a yield of 3.33%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 79.10%.

AvalonBay Communities Company Profile (Get Rating)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 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 markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

See Also

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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