AvalonBay Communities (AVB) Sets New 52-Week Low at $167.74

AvalonBay Communities, Inc. (NYSE:AVB) hit a new 52-week low on Friday . The stock traded as low as $167.74 and last traded at $167.63, with a volume of 162831 shares changing hands. The stock had previously closed at $169.77.

AVB has been the topic of several analyst reports. Robert W. Baird reiterated a “buy” rating and set a $187.00 price target on shares of AvalonBay Communities in a research report on Tuesday, January 9th. UBS Group upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their price target for the company from $190.00 to $206.00 in a research report on Thursday, November 9th. Stifel Nicolaus reiterated a “buy” rating and set a $209.00 price target on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Mizuho reiterated a “buy” rating and set a $220.00 price target on shares of AvalonBay Communities in a research report on Monday, November 6th. Finally, Zacks Investment Research upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. AvalonBay Communities presently has an average rating of “Hold” and a consensus target price of $200.40.

The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. The firm has a market cap of $23,443.18, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35.

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 for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The company had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $2.11 earnings per share. research analysts expect that AvalonBay Communities, Inc. will post 8.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio (DPR) is 88.75%.

In related news, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total value of $365,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Sean J. Breslin sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $182.65, for a total transaction of $273,975.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of AvalonBay Communities by 40.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 61,538 shares of the real estate investment trust’s stock worth $10,979,000 after purchasing an additional 17,790 shares during the last quarter. DnB Asset Management AS boosted its stake in AvalonBay Communities by 2.1% in the fourth quarter. DnB Asset Management AS now owns 14,778 shares of the real estate investment trust’s stock worth $2,637,000 after buying an additional 300 shares in the last quarter. Prudential Financial Inc. boosted its stake in AvalonBay Communities by 76.6% in the third quarter. Prudential Financial Inc. now owns 337,923 shares of the real estate investment trust’s stock worth $60,292,000 after buying an additional 146,610 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in AvalonBay Communities by 3.7% in the third quarter. Parametric Portfolio Associates LLC now owns 277,745 shares of the real estate investment trust’s stock worth $49,555,000 after buying an additional 9,911 shares in the last quarter. Finally, AXA boosted its stake in AvalonBay Communities by 5.5% in the third quarter. AXA now owns 117,895 shares of the real estate investment trust’s stock worth $21,034,000 after buying an additional 6,096 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

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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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