Analysts Set AvalonBay Communities, Inc. (NYSE:AVB) Target Price at $196.78

AvalonBay Communities, Inc. (NYSE:AVB) has earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $196.78.

Several analysts have recently weighed in on AVB shares. Piper Sandler reaffirmed an “overweight” rating and set a $207.00 price objective on shares of AvalonBay Communities in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They issued a “buy” rating and a $206.00 price objective for the company. Wolfe Research cut AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Mizuho cut their price target on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Finally, Truist Financial decreased their price objective on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th.

Insider Activity

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. bought a new position in shares of AvalonBay Communities in the third quarter valued at about $26,000. Byrne Asset Management LLC increased its holdings in shares of AvalonBay Communities by 270.0% during 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 period. Ronald Blue Trust Inc. boosted its stake in shares of AvalonBay Communities by 316.7% in the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 171 shares during the period. Castleview Partners LLC raised its holdings in AvalonBay Communities by 1,542.9% in the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 216 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth $45,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.0 %

Shares of NYSE:AVB opened at $191.30 on Tuesday. The stock has a market capitalization of $27.20 billion, a PE ratio of 29.21, a P/E/G ratio of 3.51 and a beta of 0.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $182.37 and a 200 day moving average price of $178.52. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $198.65.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($1.03). The company had revenue of $704.71 million during the quarter, compared to analyst estimates of $701.67 million. AvalonBay Communities had a return on equity of 7.98% and a net margin of 33.56%. During the same quarter in the previous year, the business posted $2.59 EPS. Analysts expect that AvalonBay Communities will post 10.8 EPS for the current fiscal year.

AvalonBay Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $1.70 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio is 103.82%.

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.