BidaskClub downgraded shares of AvalonBay Communities, Inc. (NYSE:AVB) from a hold rating to a sell rating in a research note published on Wednesday.
Other equities analysts have also recently issued research reports about the stock. Barclays PLC raised their target price on shares of AvalonBay Communities from $174.00 to $188.00 and gave the company an equal weight rating in a research note on Wednesday, April 19th. BTIG Research raised their target price on shares of AvalonBay Communities from $191.00 to $200.00 and gave the company a buy rating in a research note on Monday, April 24th. Jefferies Group LLC reissued a hold rating and set a $196.00 target price on shares of AvalonBay Communities in a research note on Monday, April 24th. Royal Bank Of Canada reissued a buy rating and set a $203.00 target price on shares of AvalonBay Communities in a research note on Sunday, July 16th. Finally, BMO Capital Markets reissued a hold rating and set a $191.00 target price on shares of AvalonBay Communities in a research note on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $193.58.
Shares of AvalonBay Communities (AVB) opened at 188.51 on Wednesday. The stock has a market cap of $25.96 billion, a P/E ratio of 25.96 and a beta of 0.34. The company’s 50-day moving average is $190.13 and its 200-day moving average is $187.06. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $199.52.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by $0.05. The company had revenue of $530.51 million for the quarter, compared to analyst estimates of $529.48 million. AvalonBay Communities had a net margin of 47.90% and a return on equity of 9.88%. During the same period in the previous year, the business posted $2.03 EPS. On average, analysts expect that AvalonBay Communities will post $5.19 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $1.42 per share. The ex-dividend date was Wednesday, June 28th. This represents a $5.68 annualized dividend and a dividend yield of 3.01%. AvalonBay Communities’s dividend payout ratio (DPR) is 78.13%.
In other AvalonBay Communities news, EVP Edward M. Schulman sold 1,764 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $191.82, for a total value of $338,370.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William M. Mclaughlin sold 5,112 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $193.88, for a total transaction of $991,114.56. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AVB. BlackRock Inc. boosted its position in shares of AvalonBay Communities by 2,676.8% in the first quarter. BlackRock Inc. now owns 14,398,025 shares of the real estate investment trust’s stock valued at $2,643,476,000 after buying an additional 13,879,505 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of AvalonBay Communities by 236.1% in the first quarter. Daiwa Securities Group Inc. now owns 2,585,626 shares of the real estate investment trust’s stock valued at $474,721,000 after buying an additional 1,816,302 shares during the last quarter. FMR LLC boosted its position in shares of AvalonBay Communities by 22.2% in the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after buying an additional 969,095 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of AvalonBay Communities by 1.9% in the first quarter. Vanguard Group Inc. now owns 21,857,497 shares of the real estate investment trust’s stock valued at $4,013,036,000 after buying an additional 406,218 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of AvalonBay Communities by 592.9% in the first quarter. Bank of Montreal Can now owns 461,531 shares of the real estate investment trust’s stock valued at $84,736,000 after buying an additional 394,927 shares during the last quarter. Institutional investors own 98.59% of the company’s stock.
About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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