Todays Report: Today, Bank of America Corp. Downgrade AvalonBay Communities Inc. (AVB) to Neutral

Today, Bank of America Corp. Downgrade AvalonBay Communities Inc. (AVB) to Neutral

AvalonBay Communities Inc. (NYSE:AVB) was downgraded by analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report released on Wednesday.

A number of other analysts also recently commented on the company. Cantor Fitzgerald set a $188.00 target price on AvalonBay Communities and gave the stock a “hold” rating in a research note on Monday, October 24th. Zacks Investment Research downgraded AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th. Jefferies Group restated a “hold” rating on shares of AvalonBay Communities in a research note on Tuesday, September 6th. Sandler O’Neill upgraded AvalonBay Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Finally, BTIG Research assumed coverage on AvalonBay Communities in a research note on Thursday, August 25th. They issued a “buy” rating and a $208.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $196.13.

AvalonBay Communities (NYSE:AVB) opened at 160.44 on Wednesday. The stock’s 50 day moving average price is $167.51 and its 200 day moving average price is $176.05. The company has a market cap of $22.03 billion, a P/E ratio of 23.28 and a beta of 0.39. AvalonBay Communities has a 52-week low of $158.32 and a 52-week high of $192.29.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Monday, October 24th. The real estate investment trust reported $2.11 EPS for the quarter, hitting analysts’ consensus estimates of $2.11. AvalonBay Communities had a return on equity of 9.57% and a net margin of 50.39%. During the same period in the prior year, the business earned $2.02 EPS. Analysts expect that AvalonBay Communities will post $8.29 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Friday, December 30th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, December 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $0.01. AvalonBay Communities’s dividend payout ratio (DPR) is currently 78.37%.

Several large investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. acquired a new stake in AvalonBay Communities during the second quarter valued at about $129,792,000. Standard Life Investments LTD boosted its stake in AvalonBay Communities by 746.9% in the third quarter. Standard Life Investments LTD now owns 679,719 shares of the real estate investment trust’s stock valued at $120,864,000 after buying an additional 599,463 shares during the period. FMR LLC boosted its stake in AvalonBay Communities by 25.3% in the second quarter. FMR LLC now owns 2,823,120 shares of the real estate investment trust’s stock valued at $509,263,000 after buying an additional 570,396 shares during the period. Cohen & Steers Inc. boosted its stake in AvalonBay Communities by 5,534.7% in the second quarter. Cohen & Steers Inc. now owns 573,500 shares of the real estate investment trust’s stock valued at $24,781,000 after buying an additional 563,322 shares during the period. Finally, Vanguard Group Inc. boosted its stake in AvalonBay Communities by 2.0% in the second quarter. Vanguard Group Inc. now owns 21,146,084 shares of the real estate investment trust’s stock valued at $3,814,543,000 after buying an additional 406,436 shares during the period. 96.50% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

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