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 paid a dividend of 1.42 per share by the real estate investment trust on Tuesday, January 16th. This represents a $5.68 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, December 28th.
AvalonBay Communities has increased its dividend payment by an average of 8.2% per year 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% indicating that 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 $178.99 on Wednesday. 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 $24,720.00, a P/E ratio of 28.05, a P/E/G ratio of 2.80 and a beta of 0.35. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69.
In other AvalonBay Communities news, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $181.89, for a total transaction of $363,780.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The shares were 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 three months, insiders have sold 30,660 shares of company stock worth $5,628,669. Company insiders own 0.46% of the company’s stock.
Several research firms have issued reports on AVB. Stifel Nicolaus dropped their price target on AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Goldman Sachs Group cut AvalonBay Communities from a “buy” rating to a “neutral” rating and set a $196.00 price target on the stock. in a report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $190.00 price target on shares of AvalonBay Communities in a report on Monday, November 27th. Finally, Royal Bank of Canada dropped their price target on AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $201.40.
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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.
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