AvalonBay Communities (NYSE:AVB) had its price objective boosted by KeyCorp from $212.00 to $215.00 in a report published on Wednesday morning, Stock Target Advisor reports. The firm currently has an overweight rating on the real estate investment trust’s stock.
Several other equities research analysts also recently weighed in on AVB. Barclays set a $325.00 price objective on shares of Align Technology and gave the stock a buy rating in a report on Thursday, April 11th. Argus reaffirmed a buy rating and issued a $215.00 price objective on shares of AvalonBay Communities in a report on Tuesday, April 30th. Mizuho set a $27.00 price objective on shares of Horizon Therapeutics and gave the stock a hold rating in a report on Wednesday, May 8th. Morgan Stanley upped their price objective on shares of General Mills from $49.00 to $52.00 and gave the stock an equal weight rating in a report on Thursday, June 27th. Finally, Robert W. Baird upped their price objective on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock an outperform rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. AvalonBay Communities currently has a consensus rating of Hold and a consensus target price of $204.73.
AvalonBay Communities stock opened at $210.48 on Wednesday. The company has a market capitalization of $29.47 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 4.01 and a beta of 0.51. The business’s 50-day moving average price is $206.53. AvalonBay Communities has a one year low of $167.01 and a one year high of $214.10. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.67.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.02. The business had revenue of $459.80 million during the quarter, compared to the consensus estimate of $575.92 million. AvalonBay Communities had a net margin of 45.94% and a return on equity of 9.52%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share. As a group, research analysts expect that AvalonBay Communities will post 9.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $6.08 annualized dividend and a yield of 2.89%. AvalonBay Communities’s payout ratio is presently 67.56%.
In other news, COO Sean J. Breslin sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $201.75, for a total value of $302,625.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William M. Mclaughlin sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $209.07, for a total value of $522,675.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,881 shares of company stock worth $2,042,649. Corporate insiders own 0.42% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of AvalonBay Communities by 84.2% in the first quarter. Parallel Advisors LLC now owns 337 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 154 shares during the period. Jennison Associates LLC acquired a new position in AvalonBay Communities during the first quarter worth $229,000. Campbell & CO Investment Adviser LLC raised its stake in AvalonBay Communities by 202.2% during the first quarter. Campbell & CO Investment Adviser LLC now owns 3,783 shares of the real estate investment trust’s stock worth $759,000 after acquiring an additional 2,531 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in AvalonBay Communities by 2.7% during the first quarter. Wedge Capital Management L L P NC now owns 472,813 shares of the real estate investment trust’s stock worth $94,908,000 after acquiring an additional 12,221 shares in the last quarter. Finally, Calamos Advisors LLC raised its stake in AvalonBay Communities by 1.0% during the first quarter. Calamos Advisors LLC now owns 19,004 shares of the real estate investment trust’s stock worth $3,815,000 after acquiring an additional 187 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.
AvalonBay Communities Company Profile
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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