AvalonBay Communities (NYSE:AVB) Price Target Raised to $207.00 at Evercore ISI

AvalonBay Communities (NYSE:AVB) had its price target boosted by Evercore ISI from $205.00 to $207.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on AVB. Mizuho increased their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a neutral rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a neutral rating in a research note on Monday, June 17th. Wells Fargo & Company increased their price objective on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. Barclays increased their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an overweight rating in a research note on Monday, April 29th. Finally, Scotiabank increased their price objective on shares of AvalonBay Communities from $193.00 to $213.00 and gave the stock a sector perform rating in a research note on Tuesday, May 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $207.17.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $201.88 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. AvalonBay Communities has a one year low of $160.45 and a one year high of $208.45. The company’s 50-day simple moving average is $199.26 and its 200-day simple moving average is $187.94. The stock has a market capitalization of $28.71 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.97 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The company had revenue of $712.86 million for the quarter, compared to the consensus estimate of $706.61 million. During the same period in the previous year, the business posted $2.57 EPS. Equities 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. Investors of record on Friday, June 28th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.37%. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

Institutional Trading of AvalonBay Communities

Large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities during the second quarter worth approximately $32,000. Byrne Asset Management LLC boosted its holdings in 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 worth $34,000 after buying an additional 135 shares in the last quarter. Versant Capital Management Inc boosted its holdings in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON bought a new stake in AvalonBay Communities during the first quarter worth approximately $39,000. Finally, Pinnacle Bancorp Inc. boosted its holdings 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 buying an additional 75 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

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.