Robert W. Baird Reiterates Buy Rating for AvalonBay Communities (AVB)

Robert W. Baird reissued their buy rating on shares of AvalonBay Communities (NYSE:AVB) in a report issued on Tuesday. Robert W. Baird currently has a $187.00 target price on the real estate investment trust’s stock.

AVB has been the topic of a number of other research reports. UBS Group upgraded shares of AvalonBay Communities from a neutral rating to a buy rating and lifted their price objective for the company from $190.00 to $206.00 in a research note on Thursday, November 9th. Mizuho reiterated a buy rating and set a $220.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 6th. Evercore ISI upgraded shares of AvalonBay Communities from an in-line rating to an outperform rating and set a $194.00 price objective on the stock in a research note on Monday, September 25th. Stifel Nicolaus reiterated a buy rating and set a $209.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Finally, KeyCorp reiterated a hold rating on shares of AvalonBay Communities in a research note on Sunday, September 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. AvalonBay Communities currently has a consensus rating of Hold and a consensus price target of $200.40.

AvalonBay Communities (NYSE AVB) traded down $1.54 on Tuesday, hitting $168.23. 494,377 shares of the stock were exchanged, compared to its average volume of 548,289. The stock has a market capitalization of $23,220.00, a price-to-earnings ratio of 26.37, a P/E/G ratio of 2.58 and a beta of 0.35. AvalonBay Communities has a 12 month low of $167.51 and a 12 month high of $199.52. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The firm had revenue of $550.50 million for the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 EPS. analysts forecast that AvalonBay Communities will post 8.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $1.42 dividend. The ex-dividend date is Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.38%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 89.03%.

In related news, insider Leo S. Horey III sold 2,000 shares of AvalonBay Communities stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total value of $365,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Naughton sold 25,160 shares of AvalonBay Communities stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,660 shares of company stock valued at $5,628,669. Insiders own 0.46% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Miles Capital Inc. increased its stake in shares of AvalonBay Communities by 2.8% in the second quarter. Miles Capital Inc. now owns 1,402 shares of the real estate investment trust’s stock worth $269,000 after buying an additional 38 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in AvalonBay Communities by 2.5% in the second quarter. Riverhead Capital Management LLC now owns 5,673 shares of the real estate investment trust’s stock worth $1,090,000 after purchasing an additional 141 shares during the period. WFG Advisors LP boosted its holdings in AvalonBay Communities by 24.9% in the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 167 shares during the period. Phocas Financial Corp. boosted its holdings in AvalonBay Communities by 1.6% in the second quarter. Phocas Financial Corp. now owns 13,396 shares of the real estate investment trust’s stock worth $2,574,000 after purchasing an additional 207 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in AvalonBay Communities by 3.8% in the second quarter. HighTower Advisors LLC now owns 6,098 shares of the real estate investment trust’s stock worth $1,170,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

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AvalonBay Communities Company Profile

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.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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