Today: Today, AvalonBay Communities Inc. (AVB) Upgrade to Buy by Evercore ISI

Today, AvalonBay Communities Inc. (AVB) Upgrade to Buy by Evercore ISI

Evercore ISI upgraded shares of AvalonBay Communities Inc. (NYSE:AVB) from a hold rating to a buy rating in a research note issued to investors on Monday morning. Evercore ISI currently has $179.00 target price on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the stock. Sandler O’Neill upgraded shares of AvalonBay Communities from a hold rating to a buy rating in a research report on Tuesday, September 6th. Deutsche Bank AG reduced their price target on shares of AvalonBay Communities from $194.00 to $193.00 and set a buy rating for the company in a research report on Wednesday, August 10th. BTIG Research initiated coverage on shares of AvalonBay Communities in a research report on Thursday, August 25th. They set a buy rating and a $208.00 price target for the company. Jefferies Group increased their price target on shares of AvalonBay Communities from $186.00 to $187.00 and gave the company a hold rating in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald set a $188.00 price target on shares of AvalonBay Communities and gave the company a hold rating in a research report on Monday, October 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $194.56.

AvalonBay Communities (NYSE:AVB) opened at 163.42 on Monday. AvalonBay Communities has a 12-month low of $158.32 and a 12-month high of $192.29. The firm has a 50-day moving average of $167.28 and a 200 day moving average of $175.48. The company has a market capitalization of $22.44 billion, a price-to-earnings 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, hitting the Thomson Reuters’ consensus estimate 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 business posted $2.02 earnings per share. Analysts expect that AvalonBay Communities will post $8.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 16th. Investors of record on Friday, December 30th will be paid a $1.35 dividend. 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 yield of 3.36%. The ex-dividend date of this dividend is Wednesday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 78.37%.

A number of large investors have recently made changes to their positions in the stock. First Financial Corp IN increased its stake in shares of AvalonBay Communities by 21.8% in the second quarter. First Financial Corp IN now owns 559 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of AvalonBay Communities by 444.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 583 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 476 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of AvalonBay Communities during the second quarter worth $125,000. First New York Securities LLC NY bought a new stake in shares of AvalonBay Communities during the second quarter worth $144,000. Finally, IFP Advisors Inc increased its stake in shares of AvalonBay Communities by 0.3% in the second quarter. IFP Advisors Inc now owns 1,006 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 3 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile

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