AvalonBay Communities, Inc. (NYSE:AVB) Receives $204.89 Average Target Price from Analysts

AvalonBay Communities, Inc. (NYSE:AVB) has earned an average recommendation of “Hold” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $204.89.

A number of analysts recently issued reports on AVB shares. Royal Bank of Canada lifted their target price on AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Argus lifted their target price on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Mizuho lifted their target price on AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Evercore ISI downgraded AvalonBay Communities from an “outperform” rating to an “inline” rating and set a $202.00 target price on the stock. in a research report on Monday, May 13th. Finally, Piper Sandler lifted their target price on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, April 29th.

AvalonBay Communities Stock Performance

AVB opened at $201.89 on Wednesday. The business’s 50-day moving average price is $192.70 and its two-hundred day moving average price is $184.97. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $201.96. The company has a market capitalization of $28.71 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The firm had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. During the same period in the prior year, the business earned $2.57 EPS. Equities analysts expect that AvalonBay Communities will post 10.9 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

Institutional Investors Weigh In On AvalonBay Communities

A number of institutional investors have recently made changes to their positions in AVB. Neo Ivy Capital Management bought a new stake in shares of AvalonBay Communities in the third quarter valued at approximately $3,610,000. Lasalle Investment Management Securities LLC boosted its stake in shares of AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after buying an additional 18,320 shares during the period. Delta Investment Management LLC bought a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $873,000. GSI Capital Advisors LLC boosted its stake in shares of AvalonBay Communities by 21.3% in the fourth quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock valued at $9,506,000 after buying an additional 8,925 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in shares of AvalonBay Communities by 2.1% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock valued at $46,561,000 after buying an additional 5,061 shares during the period. Institutional investors own 92.61% of the company’s stock.

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.