AvalonBay Communities (NYSE:AVB) Now Covered by Barclays

Barclays assumed coverage on shares of AvalonBay Communities (NYSE:AVB) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued an equal weight rating and a $243.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on AVB. JPMorgan Chase & Co. raised shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and raised their target price for the company from $247.00 to $262.00 in a research note on Tuesday. Evercore ISI lifted their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Scotiabank dropped their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $231.33.

AvalonBay Communities Stock Down 0.2 %

Shares of NYSE:AVB opened at $226.94 on Tuesday. The firm has a market capitalization of $32.28 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.30 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a 50 day moving average price of $227.51 and a 200-day moving average price of $218.11. AvalonBay Communities has a 52-week low of $169.37 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The firm had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. During the same period in the prior year, the business posted $2.66 EPS. As a group, equities research analysts anticipate that AvalonBay Communities will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the sale, the director now directly owns 111,436 shares in the company, valued at $26,051,508.08. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Institutional Trading of AvalonBay Communities

Large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of AvalonBay Communities by 2.2% during the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock worth $2,097,971,000 after acquiring an additional 196,938 shares during the last quarter. Geode Capital Management LLC raised its holdings in AvalonBay Communities by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,585,802 shares of the real estate investment trust’s stock worth $805,113,000 after purchasing an additional 27,988 shares during the period. Charles Schwab Investment Management Inc. lifted its position in AvalonBay Communities by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock valued at $504,658,000 after purchasing an additional 78,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in AvalonBay Communities by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after purchasing an additional 13,631 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AvalonBay Communities by 678.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after buying an additional 1,494,872 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.