AvalonBay Communities, Inc. (NYSE:AVB) announced a quarterly dividend on Thursday, September 14th, RTT News reports. Stockholders of record on Friday, September 29th will be paid a dividend of 1.42 per share by the real estate investment trust on Monday, October 16th. This represents a $5.68 annualized dividend and a dividend yield of 3.09%.
AvalonBay Communities has raised its dividend payment by an average of 8.2% per year over the last three years and has increased its dividend every year for the last 5 years. AvalonBay Communities has a dividend payout ratio of 66.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect AvalonBay Communities to earn $9.09 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 62.5%.
Shares of AvalonBay Communities (AVB) opened at 183.75 on Friday. AvalonBay Communities has a one year low of $158.32 and a one year high of $199.52. The stock’s 50 day moving average price is $188.68 and its 200 day moving average price is $188.91. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of 25.31 and a beta of 0.35.
AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.14 by ($0.05). The firm had revenue of $530.51 million for the quarter, compared to the consensus estimate of $529.48 million. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. During the same quarter last year, the business posted $2.03 EPS. On average, equities analysts anticipate that AvalonBay Communities will post $5.19 earnings per share for the current fiscal year.
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AVB has been the topic of a number of recent research reports. Robert W. Baird reiterated a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a research note on Friday, September 1st. BidaskClub lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Barclays PLC increased their target price on AvalonBay Communities from $188.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price on the stock. in a research note on Tuesday, September 5th. Finally, Deutsche Bank AG increased their target price on AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. AvalonBay Communities presently has an average rating of “Hold” and an average target price of $195.47.
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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