Jefferies Group Reaffirms “Hold” Rating for AvalonBay Communities (AVB)

Jefferies Group restated their hold rating on shares of AvalonBay Communities (NYSE:AVB) in a report released on Friday. The firm currently has a $166.00 target price on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on AVB. BMO Capital Markets reiterated a hold rating and issued a $187.00 price target on shares of AvalonBay Communities in a research note on Wednesday, January 31st. BTIG Research cut their price objective on AvalonBay Communities to $189.00 and set a buy rating for the company in a research report on Thursday, March 15th. Citigroup upgraded AvalonBay Communities from a neutral rating to a buy rating and set a $190.00 price objective for the company in a research report on Friday, April 6th. Mizuho set a $185.00 price objective on AvalonBay Communities and gave the company a buy rating in a research report on Friday, February 9th. Finally, Sandler O’Neill lowered AvalonBay Communities from a buy rating to a hold rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $189.24.

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NYSE:AVB opened at $166.53 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $22,813.38, a PE ratio of 19.32, a P/E/G ratio of 2.58 and a beta of 0.36. AvalonBay Communities has a one year low of $152.65 and a one year high of $199.52.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, topping the consensus estimate of $1.22 by $1.03. The firm had revenue of $555.29 million during the quarter, compared to analyst estimates of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. AvalonBay Communities’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. sell-side analysts expect that AvalonBay Communities will post 8.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $1.47 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. The ex-dividend date is Wednesday, March 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.53%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 68.21%.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of AvalonBay Communities by 1.3% in the 4th quarter. BlackRock Inc. now owns 15,114,729 shares of the real estate investment trust’s stock valued at $2,696,619,000 after acquiring an additional 187,850 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in AvalonBay Communities by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,493,069 shares of the real estate investment trust’s stock worth $623,200,000 after purchasing an additional 308,139 shares during the last quarter. PGGM Investments lifted its stake in AvalonBay Communities by 21.4% in the fourth quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock worth $355,571,000 after purchasing an additional 350,790 shares during the last quarter. Geode Capital Management LLC lifted its stake in AvalonBay Communities by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 1,751,561 shares of the real estate investment trust’s stock worth $311,957,000 after purchasing an additional 73,061 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in AvalonBay Communities by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,299,049 shares of the real estate investment trust’s stock worth $231,764,000 after purchasing an additional 75,452 shares during the last quarter. 94.72% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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