AvalonBay Communities, Inc. (AVB) To Go Ex-Dividend on September 30th

AvalonBay Communities, Inc. (NYSE:AVB) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be paid a dividend of 1.70 per share by the real estate investment trust on Tuesday, October 15th. This represents a $6.80 annualized dividend and a yield of 3.02%. The ex-dividend date is Monday, September 30th.

AvalonBay Communities has raised its dividend by an average of 1.2% annually over the last three years. AvalonBay Communities has a dividend payout ratio of 121.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect AvalonBay Communities to earn $11.55 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 58.9%.

AvalonBay Communities Stock Down 0.6 %

NYSE AVB opened at $225.23 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a 52 week low of $160.45 and a 52 week high of $236.26. The business’s fifty day simple moving average is $219.26 and its 200-day simple moving average is $202.59. The firm has a market cap of $32.02 billion, a PE ratio of 33.52, a P/E/G ratio of 3.55 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter in the previous year, the firm earned $2.66 earnings per share. As a group, equities analysts anticipate that AvalonBay Communities will post 11.01 earnings per share for the current year.

Insider Activity

In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

AVB has been the topic of several recent analyst reports. Evercore ISI upped their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Piper Sandler upped their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Scotiabank upped their price objective on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Truist Financial raised their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $223.12.

About AvalonBay Communities

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.