AvalonBay Communities (NYSE:AVB) Coverage Initiated by Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of AvalonBay Communities (NYSE:AVBGet Rating) in a research note released on Wednesday, The Fly reports. The firm issued a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. Piper Sandler reduced their price objective on AvalonBay Communities from $265.00 to $240.00 in a research note on Wednesday, May 4th. StockNews.com began coverage on AvalonBay Communities in a research note on Thursday, March 31st. They issued a hold rating for the company. Barclays reduced their price objective on AvalonBay Communities from $263.00 to $229.00 in a research note on Tuesday, May 10th. 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. Finally, Scotiabank dropped their target price on AvalonBay Communities from $262.00 to $238.00 in a report on Thursday, May 19th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $257.63.

Shares of NYSE:AVB opened at $191.89 on Wednesday. AvalonBay Communities has a 52-week low of $183.35 and a 52-week high of $259.05. The stock has a market cap of $26.83 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 3.23 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $213.02 and a 200-day moving average price of $234.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, June 29th. AvalonBay Communities’s payout ratio is currently 79.10%.

Institutional investors and hedge funds have recently modified their holdings of the business. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $25,000. Rise Advisors LLC purchased a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $30,000. Riverview Trust Co purchased a new position in shares of AvalonBay Communities in the first quarter valued at approximately $32,000. Dark Forest Capital Management LP purchased a new position in shares of AvalonBay Communities in the third quarter valued at approximately $38,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $44,000. 90.98% of the stock is currently owned by institutional investors.

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").

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