AvalonBay Communities (NYSE:AVB) had its price target hoisted by KeyCorp from $212.00 to $215.00 in a research report sent to investors on Wednesday, Stock Target Advisor reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

AVB has been the topic of a number of other research reports. Morgan Stanley raised their price objective on General Mills from $49.00 to $52.00 and gave the stock an equal weight rating in a research note on Thursday, June 27th. Argus reissued a buy rating and issued a $215.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, April 30th. Mizuho set a $27.00 price target on Horizon Therapeutics and gave the stock a hold rating in a research note on Wednesday, May 8th. Barclays set a $325.00 price objective on Align Technology and gave the stock a buy rating in a report on Thursday, April 11th. Finally, Robert W. Baird upped their target price on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company an outperform rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. AvalonBay Communities currently has an average rating of Hold and an average price target of $204.73.

AVB stock opened at $210.48 on Wednesday. The firm has a market capitalization of $29.47 billion, a P/E ratio of 23.39, a P/E/G ratio of 4.01 and a beta of 0.51. The stock’s 50 day moving average is $206.53. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.57 and a quick ratio of 0.57. AvalonBay Communities has a twelve month low of $167.01 and a twelve month high of $214.10.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.02. AvalonBay Communities had a return on equity of 9.52% and a net margin of 45.94%. The firm had revenue of $459.80 million during the quarter, compared to analyst estimates of $575.92 million. During the same period in the previous year, the company earned $2.18 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts forecast that AvalonBay Communities will post 9.34 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $1.52 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $6.08 annualized dividend and a yield of 2.89%. AvalonBay Communities’s payout ratio is 67.56%.

In related news, COO Sean J. Breslin sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $201.75, for a total value of $302,625.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Keri A. Shea sold 1,131 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $200.09, for a total value of $226,301.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,881 shares of company stock worth $2,042,649. 0.42% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of AVB. Norges Bank purchased a new position in AvalonBay Communities in the fourth quarter valued at approximately $225,932,000. Principal Financial Group Inc. lifted its position in shares of AvalonBay Communities by 11.8% during the first quarter. Principal Financial Group Inc. now owns 4,208,825 shares of the real estate investment trust’s stock worth $844,837,000 after acquiring an additional 445,179 shares in the last quarter. Deutsche Bank AG lifted its position in shares of AvalonBay Communities by 119.8% during the fourth quarter. Deutsche Bank AG now owns 589,395 shares of the real estate investment trust’s stock worth $102,575,000 after acquiring an additional 321,291 shares in the last quarter. BlackRock Inc. lifted its position in shares of AvalonBay Communities by 2.0% during the first quarter. BlackRock Inc. now owns 16,019,099 shares of the real estate investment trust’s stock worth $3,215,513,000 after acquiring an additional 318,151 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of AvalonBay Communities by 36.2% during the fourth quarter. Nuveen Asset Management LLC now owns 821,848 shares of the real estate investment trust’s stock worth $143,043,000 after acquiring an additional 218,586 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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