The AvalonBay Communities, Inc. (AVB) Earns Buy Rating from Royal Bank Of Canada

The AvalonBay Communities, Inc. (AVB) Earns Buy Rating from Royal Bank Of Canada

Several other research firms have also weighed in on AVB. Argus began coverage on AvalonBay Communities in a report on Thursday, June 22nd. They issued a buy rating and a $220.00 target price for the company. Jefferies Group LLC reiterated a hold rating and set a $196.00 price target on shares of AvalonBay Communities in a report on Tuesday, July 4th. BMO Capital Markets reiterated a hold rating and set a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, May 25th. Deutsche Bank AG lowered AvalonBay Communities from a buy rating to a hold rating and set a $193.00 price target for the company. in a report on Wednesday, May 17th. Finally, JMP Securities lowered AvalonBay Communities from an outperform rating to a market perform rating in a report on Wednesday, April 19th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. AvalonBay Communities currently has an average rating of Hold and a consensus price target of $193.58.

Royal Bank Of Canada reiterated their buy rating on shares of AvalonBay Communities, Inc. (NYSE:AVB) in a report released on Sunday, July 16th. Royal Bank Of Canada currently has a $203.00 target price on the real estate investment trust’s stock.

Shares of AvalonBay Communities (NYSE AVB) traded down 0.43% on Friday, hitting $191.29. 520,197 shares of the company traded hands. The stock’s 50-day moving average price is $191.58 and its 200-day moving average price is $186.57. The company has a market capitalization of $26.28 billion, a PE ratio of 25.49 and a beta of 0.34. AvalonBay Communities has a 12 month low of $158.32 and a 12 month high of $199.52.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.92. AvalonBay Communities had a return on equity of 10.31% and a net margin of 50.12%. During the same period last year, the company posted $2.03 earnings per share. On average, equities analysts predict that AvalonBay Communities will post $5.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 75.63%.

In other news, EVP Edward M. Schulman sold 1,764 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $191.82, for a total transaction of $338,370.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sean J. Breslin sold 1,500 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $192.19, for a total value of $288,285.00. The disclosure for this sale can be found here. Insiders have sold 29,336 shares of company stock worth $5,641,111 in the last ninety days. 0.53% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. DnB Asset Management AS raised its position in AvalonBay Communities by 17.9% in the first quarter. DnB Asset Management AS now owns 14,478 shares of the real estate investment trust’s stock valued at $2,658,000 after buying an additional 2,200 shares during the last quarter. Baldwin Brothers Inc. MA raised its position in AvalonBay Communities by 16.1% in the first quarter. Baldwin Brothers Inc. MA now owns 39,368 shares of the real estate investment trust’s stock valued at $7,228,000 after buying an additional 5,461 shares during the last quarter. Capstone Asset Management Co. raised its position in AvalonBay Communities by 3.0% in the first quarter. Capstone Asset Management Co. now owns 16,591 shares of the real estate investment trust’s stock valued at $3,046,000 after buying an additional 486 shares during the last quarter. Bank of Montreal Can raised its position in AvalonBay Communities by 592.9% in the first quarter. Bank of Montreal Can now owns 461,531 shares of the real estate investment trust’s stock valued at $84,736,000 after buying an additional 394,927 shares during the last quarter. Finally, National Pension Service raised its position in AvalonBay Communities by 6.8% in the first quarter. National Pension Service now owns 116,096 shares of the real estate investment trust’s stock valued at $21,283,000 after buying an additional 7,368 shares during the last quarter. 98.59% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

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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