Robert W. Baird reiterated their buy rating on shares of AvalonBay Communities (NYSE:AVB) in a report released on Tuesday, January 9th. Robert W. Baird currently has a $187.00 price target on the real estate investment trust’s stock.
Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of AvalonBay Communities from an overweight rating to a neutral rating and set a $211.00 price objective for the company. in a research note on Friday, December 15th. BMO Capital Markets restated a hold rating and issued a $190.00 target price on shares of AvalonBay Communities in a research report on Monday, November 27th. UBS Group raised shares of AvalonBay Communities from a neutral rating to a buy rating and lifted their price target for the company from $190.00 to $206.00 in a report on Thursday, November 9th. Royal Bank of Canada decreased their price target on shares of AvalonBay Communities from $206.00 to $200.00 and set an outperform rating on the stock in a report on Monday, November 6th. Finally, Mizuho reaffirmed a buy rating and set a $220.00 price target on shares of AvalonBay Communities in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. AvalonBay Communities presently has an average rating of Hold and an average target price of $199.40.
Shares of AvalonBay Communities (NYSE AVB) traded up $0.91 on Tuesday, hitting $168.70. 722,314 shares of the stock were exchanged, compared to its average volume of 454,482. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. The company has a market cap of $23,169.77, a P/E ratio of 26.36, a PEG ratio of 2.49 and a beta of 0.35. AvalonBay Communities has a 52 week low of $167.09 and a 52 week high of $199.52.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is currently 88.75%.
In related news, CEO Timothy J. Naughton sold 25,160 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total transaction of $4,625,414.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $182.65, for a total transaction of $273,975.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,660 shares of company stock worth $5,628,669. Insiders own 0.46% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVB. Federated Investors Inc. PA raised its holdings in AvalonBay Communities by 212.0% during the second quarter. Federated Investors Inc. PA now owns 5,782 shares of the real estate investment trust’s stock worth $1,111,000 after buying an additional 3,929 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of AvalonBay Communities by 2.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,673 shares of the real estate investment trust’s stock worth $1,090,000 after acquiring an additional 141 shares in the last quarter. FNY Partners Fund LP grew its stake in shares of AvalonBay Communities by 4,400.0% in the 2nd quarter. FNY Partners Fund LP now owns 2,150 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 2,200 shares in the last quarter. Norinchukin Bank The grew its stake in shares of AvalonBay Communities by 7.1% in the 2nd quarter. Norinchukin Bank The now owns 9,561 shares of the real estate investment trust’s stock worth $1,837,000 after acquiring an additional 637 shares in the last quarter. Finally, Standard Life Investments LTD grew its stake in shares of AvalonBay Communities by 15.2% in the 2nd quarter. Standard Life Investments LTD now owns 941,809 shares of the real estate investment trust’s stock worth $181,020,000 after acquiring an additional 124,441 shares in the last quarter. Hedge funds and other institutional investors own 94.86% of the company’s stock.
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About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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