AvalonBay Communities (NYSE:AVB) Upgraded to “Outperform” at Mizuho

Mizuho upgraded shares of AvalonBay Communities (NYSE:AVB) from a neutral rating to an outperform rating in a report released on Monday, Marketbeat.com reports. They currently have $242.00 target price on the real estate investment trust’s stock, up from their prior target price of $239.00.

AVB has been the topic of several other reports. Royal Bank of Canada cut their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. BNP Paribas began coverage on AvalonBay Communities in a report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. Evercore ISI boosted their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. upgraded 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, December 17th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.53.

AvalonBay Communities Trading Down 3.1 %

AvalonBay Communities stock opened at $212.39 on Monday. AvalonBay Communities has a 12 month low of $169.37 and a 12 month high of $239.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $30.21 billion, a P/E ratio of 29.05, a P/E/G ratio of 3.30 and a beta of 0.99. The company’s fifty day simple moving average is $226.28 and its 200-day simple moving average is $220.15.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $731.67 million. During the same quarter last year, the firm earned $2.66 EPS. As a group, sell-side analysts forecast that AvalonBay Communities will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is owned by company insiders.

Institutional Trading of AvalonBay Communities

Several hedge funds have recently modified their holdings of AVB. Segment Wealth Management LLC raised its holdings in AvalonBay Communities by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC grew its position in shares of AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. raised its stake in shares of AvalonBay Communities by 4.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 50 shares during the last quarter. Tectonic Advisors LLC raised its stake in shares of AvalonBay Communities by 2.7% during the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 50 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in AvalonBay Communities by 4.6% in the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 55 shares during the period. 92.61% of the stock is owned by institutional investors.

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.