AvalonBay Communities (NYSE:AVB) Price Target Increased to $222.00 by Analysts 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 note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

AVB has been the topic of several other reports. Morgan Stanley increased their price target on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an overweight rating in a research report on Tuesday, May 14th. Truist Financial boosted their price target on AvalonBay Communities from $207.00 to $213.00 and gave the company a hold rating in a report on Monday, June 24th. Mizuho raised their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. Scotiabank boosted their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the company a sector perform rating in a research note on Tuesday, May 14th. Finally, UBS Group raised their target price on shares of AvalonBay Communities from $199.00 to $210.00 and gave the stock a neutral rating in a research note on Tuesday, May 14th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $206.89.

AvalonBay Communities Stock Performance

Shares of AVB opened at $206.89 on Thursday. The firm has a market capitalization of $29.42 billion, a P/E ratio of 30.79, a PEG ratio of 3.01 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 has a one year low of $160.45 and a one year high of $208.45. The business has a fifty day moving average of $196.75 and a 200 day moving average of $186.89.

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 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 firm had revenue of $712.86 million for the quarter, compared to the consensus estimate of $706.61 million. During the same quarter in the prior year, the firm earned $2.57 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities will post 10.92 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared 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. This represents a $6.80 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, June 28th. AvalonBay Communities’s payout ratio is presently 101.19%.

Institutional Trading of AvalonBay Communities

A number of large investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in AvalonBay Communities in the third quarter worth $3,610,000. Lasalle Investment Management Securities LLC lifted its holdings in shares of AvalonBay Communities by 3.1% in the 4th 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 acquiring an additional 18,320 shares during the last quarter. Delta Investment Management LLC purchased a new position in AvalonBay Communities in the fourth quarter worth about $873,000. GSI Capital Advisors LLC increased its stake in AvalonBay Communities by 21.3% during the fourth quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock worth $9,506,000 after acquiring an additional 8,925 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its position in AvalonBay Communities by 2.1% during 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 purchasing an additional 5,061 shares during the period. Institutional investors own 92.61% of the company’s stock.

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.