AvalonBay Communities (NYSE:AVB) PT Raised to $222.00 at Wells Fargo & Company

AvalonBay Communities (NYSE:AVB) had its price objective increased by Wells Fargo & Company from $210.00 to $222.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on AVB. Truist Financial lifted their price target on shares of AvalonBay Communities from $207.00 to $213.00 and gave the company a hold rating in a research report on Monday, June 24th. JPMorgan Chase & Co. upped their target price on AvalonBay Communities from $194.00 to $212.00 and gave the company a neutral rating in a report on Monday, June 17th. Mizuho lifted their price target on AvalonBay Communities from $185.00 to $194.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. Piper Sandler increased their price objective on shares of AvalonBay Communities from $207.00 to $230.00 and gave the company an overweight rating in a research note on Monday, April 29th. Finally, UBS Group lifted their target price on shares of AvalonBay Communities from $199.00 to $210.00 and gave the stock a neutral rating in a research report on Tuesday, May 14th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $206.89.

AvalonBay Communities Trading Up 0.3 %

NYSE:AVB opened at $206.89 on Thursday. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $208.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day moving average price of $196.75 and a two-hundred day moving average price of $186.91. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.02 and a beta of 0.93.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The company had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. During the same quarter in the prior year, the business earned $2.57 EPS. As a group, sell-side analysts anticipate that AvalonBay Communities will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 annualized dividend and a dividend yield of 3.29%. AvalonBay Communities’s payout ratio is currently 101.19%.

Institutional Investors Weigh In On AvalonBay Communities

A number of institutional investors have recently bought and sold shares of the stock. Byrne Asset Management LLC grew its stake in shares of AvalonBay Communities by 270.0% during the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 135 shares during the period. BROOKFIELD Corp ON purchased a new stake in AvalonBay Communities during the first quarter valued at about $39,000. Pinnacle Bancorp Inc. increased its stake in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 75 shares during the last quarter. Arlington Trust Co LLC purchased a new position in shares of AvalonBay Communities in the 4th quarter worth about $45,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of AvalonBay Communities in the 1st quarter worth about $68,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

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.