AvalonBay Communities Plans Quarterly Dividend of $1.47 (AVB)

AvalonBay Communities (NYSE:AVB) declared a quarterly dividend on Wednesday, May 23rd, RTT News reports. Investors of record on Friday, June 29th will be given a dividend of 1.47 per share by the real estate investment trust on Monday, July 16th. This represents a $5.88 dividend on an annualized basis and a yield of 3.64%.

AvalonBay Communities has raised its dividend by an average of 7.2% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. AvalonBay Communities has a payout ratio of 65.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AvalonBay Communities to earn $9.28 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 61.2%.

AvalonBay Communities traded up $2.24, reaching $161.49, during trading on Wednesday, MarketBeat reports. The company had a trading volume of 1,025,704 shares, compared to its average volume of 789,707. AvalonBay Communities has a 52 week low of $152.65 and a 52 week high of $199.52. The company has a market cap of $21.94 billion, a P/E ratio of 18.67, a PEG ratio of 2.42 and a beta of 0.35. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.75 and a quick ratio of 0.75.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.19 by ($1.16). AvalonBay Communities had a return on equity of 7.57% and a net margin of 35.62%. The company had revenue of $560.80 million during the quarter, compared to the consensus estimate of $556.23 million. During the same period in the previous year, the company earned $2.09 earnings per share. AvalonBay Communities’s quarterly revenue was up 7.4% on a year-over-year basis. equities research analysts expect that AvalonBay Communities will post 8.95 earnings per share for the current fiscal year.

AVB has been the topic of a number of recent research reports. Barclays cut their price objective on shares of AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. BMO Capital Markets restated a “hold” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a report on Wednesday, January 31st. Cantor Fitzgerald restated a “hold” rating and issued a $185.00 price objective on shares of AvalonBay Communities in a report on Thursday, February 1st. Sandler O’Neill cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, SunTrust Banks restated a “buy” rating and issued a $186.00 price objective on shares of AvalonBay Communities in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $188.94.

AvalonBay Communities Company Profile

As of December 31, 2017, the Company owned or held a direct or indirect ownership interest in 288 apartment communities containing 84,158 apartment homes in 12 states and the District of Columbia, of which 21 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.

Dividend History for AvalonBay Communities (NYSE:AVB)

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