Barclays Lowers AvalonBay Communities (NYSE:AVB) Price Target to $229.00

AvalonBay Communities (NYSE:AVBGet Rating) had its target price cut by Barclays from $263.00 to $229.00 in a research note published on Tuesday, The Fly reports.

Other research analysts have also issued research reports about the stock. Mizuho reduced their price objective on shares of AvalonBay Communities from $276.00 to $260.00 and set a buy rating for the company in a research note on Wednesday, February 16th. KeyCorp boosted their price objective on shares of AvalonBay Communities from $255.00 to $275.00 and gave the stock an overweight rating in a research note on Thursday, January 13th. Morgan Stanley upped their price target on shares of AvalonBay Communities from $265.00 to $271.00 and gave the company an overweight rating in a research note on Friday, April 8th. StockNews.com assumed coverage on shares of AvalonBay Communities in a research note on Thursday, March 31st. They set a hold rating on the stock. Finally, Truist Financial cut their price target on shares of AvalonBay Communities from $266.00 to $263.00 and set a hold rating on the stock in a research note on Monday, March 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities has an average rating of Buy and a consensus price target of $262.47.

NYSE AVB opened at $207.21 on Tuesday. 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 firm has a market cap of $28.97 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 3.55 and a beta of 0.93. The company has a 50 day moving average price of $239.30 and a 200 day moving average price of $241.82. AvalonBay Communities has a 52 week low of $194.61 and a 52 week high of $259.05.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Wednesday, March 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 79.10%.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in AvalonBay Communities during the fourth quarter worth $25,000. Rise Advisors LLC purchased a new stake in AvalonBay Communities during the fourth quarter worth $30,000. Riverview Trust Co purchased a new stake in AvalonBay Communities during the first quarter worth $32,000. Jones Financial Companies Lllp purchased a new stake in AvalonBay Communities during the third quarter worth $33,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in AvalonBay Communities by 240.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 160 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 113 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

About AvalonBay Communities (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").

Read More

The Fly logo

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.