Trade Report: Today: AvalonBay Communities Inc. (AVB) Raised to Buy at Evercore ISI

Today: AvalonBay Communities Inc. (AVB) Raised to Buy at Evercore ISI

AvalonBay Communities Inc. (NYSE:AVB) was upgraded by equities research analysts at Evercore ISI from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $179.00 target price on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential upside of 11.25% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Sandler O’Neill upgraded shares of AvalonBay Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Jefferies Group reiterated a “hold” rating on shares of AvalonBay Communities in a research note on Tuesday, September 6th. Deutsche Bank AG decreased their price target on shares of AvalonBay Communities from $194.00 to $193.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. BTIG Research assumed coverage on shares of AvalonBay Communities in a research report on Thursday, August 25th. They issued a “buy” rating and a $208.00 price target on the stock. Finally, Zacks Investment Research lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $194.56.

AvalonBay Communities (NYSE:AVB) traded up 1.57% during mid-day trading on Monday, hitting $163.42. The stock had a trading volume of 802,838 shares. The company has a 50 day moving average price of $167.34 and a 200 day moving average price of $175.85. AvalonBay Communities has a one year low of $158.32 and a one year high of $192.29. The stock has a market cap of $22.44 billion, a P/E ratio of 23.71 and a beta of 0.39.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 24th. The real estate investment trust reported $2.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.11. AvalonBay Communities had a net margin of 50.39% and a return on equity of 9.57%. During the same period last year, the firm posted $2.02 EPS. On average, equities analysts anticipate that AvalonBay Communities will post $8.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Friday, December 30th will be paid a $1.35 dividend. The ex-dividend date is Wednesday, December 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $0.01. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.36%. AvalonBay Communities’s payout ratio is currently 78.37%.

Several institutional investors have recently made changes to their positions in AVB. Bailard Inc. bought a new position in shares of AvalonBay Communities during the second quarter worth $477,000. ING Groep NV bought a new position in shares of AvalonBay Communities during the second quarter worth $872,000. Mizuho Trust & Banking Co. Ltd. increased its position in shares of AvalonBay Communities by 2.8% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 247,162 shares of the real estate investment trust’s stock worth $44,586,000 after buying an additional 6,748 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of AvalonBay Communities by 0.5% in the second quarter. LS Investment Advisors LLC now owns 9,483 shares of the real estate investment trust’s stock worth $1,711,000 after buying an additional 48 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of AvalonBay Communities by 267.6% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 112,121 shares of the real estate investment trust’s stock worth $20,124,000 after buying an additional 81,621 shares in the last quarter. 95.84% of the stock is owned by institutional investors.

AvalonBay Communities Company Profile

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