AvalonBay Communities, Inc. (NYSE:AVB) announced a quarterly dividend on Thursday, November 9th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 1.42 per share by the real estate investment trust on Tuesday, January 16th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Thursday, December 28th.
AvalonBay Communities has raised its dividend by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 5 years. AvalonBay Communities has a dividend payout ratio of 65.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect AvalonBay Communities to earn $9.10 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 62.4%.
Shares of AvalonBay Communities (AVB) opened at $178.12 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities has a twelve month low of $169.50 and a twelve month high of $199.52. The company has a market capitalization of $24,241.33, a PE ratio of 20.68, a P/E/G ratio of 2.76 and a beta of 0.35.
A number of equities research analysts recently commented on AVB shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Robert W. Baird reaffirmed a “buy” rating and set a $202.00 target price on shares of AvalonBay Communities in a report on Friday, September 1st. Goldman Sachs Group downgraded AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 target price for the company. in a report on Tuesday, September 5th. KeyCorp reaffirmed a “hold” rating on shares of AvalonBay Communities in a report on Sunday, September 24th. Finally, Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 target price for the company in a report on Monday, September 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $201.40.
In other news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $181.89, for a total value of $363,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy J. Naughton sold 25,160 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,628,669 over the last three months. 0.46% of the stock is currently owned by corporate insiders.
About AvalonBay Communities
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.
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