AvalonBay Communities (NYSE:AVB) Given New $230.00 Price Target at Piper Sandler

AvalonBay Communities (NYSE:AVB) had its target price boosted by Piper Sandler from $207.00 to $230.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also commented on AVB. Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They set a buy rating and a $206.00 target price on the stock. Morgan Stanley upgraded AvalonBay Communities from an equal weight rating to an overweight rating and upped their target price for the company from $175.00 to $191.50 in a research report on Monday, February 26th. Wolfe Research lowered AvalonBay Communities from an outperform rating to a peer perform rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group restated a neutral rating and set a $191.00 target price on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Finally, Truist Financial cut their target price on AvalonBay Communities from $201.00 to $197.00 and set a hold rating on the stock in a research report on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $199.78.

AvalonBay Communities Trading Down 0.2 %

NYSE AVB opened at $191.02 on Monday. The business’s 50-day moving average price is $182.93 and its two-hundred day moving average price is $178.78. AvalonBay Communities has a 12 month low of $160.45 and a 12 month high of $198.65. The firm has a market capitalization of $27.16 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 3.23 and a beta of 0.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 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 the consensus estimate of $706.61 million. During the same quarter last year, the firm posted $2.57 EPS. On average, analysts expect that AvalonBay Communities will post 10.84 EPS for the current year.

AvalonBay Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.70 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 3.56%. AvalonBay Communities’s dividend payout ratio is 101.19%.

Insider Transactions at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the sale, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Institutional Trading of AvalonBay Communities

A number of institutional investors and hedge funds have recently modified their holdings of AVB. Byrne Asset Management LLC increased its position in shares of AvalonBay Communities by 270.0% during the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 135 shares during the last quarter. Castleview Partners LLC increased its position in AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 216 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in shares of AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares during the period. Arlington Trust Co LLC bought a new stake in shares of AvalonBay Communities in the fourth quarter valued at $45,000. Finally, Lindbrook Capital LLC raised its stake in shares of AvalonBay Communities by 53.7% in the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 109 shares during the period. 92.61% of the stock is 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.