AvalonBay Communities, Inc. (AVB) To Go Ex-Dividend on June 28th

AvalonBay Communities, Inc. (NYSE:AVB) announced a quarterly dividend on Thursday, May 18th, RTT News reports. Investors of record on Friday, June 30th will be paid a dividend of 1.42 per share by the real estate investment trust on Monday, July 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, June 28th.

AvalonBay Communities has raised its dividend 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 payout ratio of 65.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AvalonBay Communities to earn $9.20 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 61.7%.

Shares of AvalonBay Communities (AVB) opened at 193.85 on Friday. The firm has a market capitalization of $26.64 billion, a PE ratio of 25.83 and a beta of 0.34. The firm’s 50 day moving average is $192.98 and its 200 day moving average is $182.97. AvalonBay Communities has a 1-year low of $158.32 and a 1-year high of $199.52.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $2.09 EPS for the quarter, missing the consensus estimate of $2.11 by $0.02. AvalonBay Communities had a return on equity of 10.31% and a net margin of 50.12%. The business had revenue of $522.33 million during the quarter, compared to the consensus estimate of $520.56 million. During the same quarter last year, the firm posted $1.97 earnings per share. AvalonBay Communities’s revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that AvalonBay Communities will post $5.19 EPS for the current fiscal year.

Dividend History for AvalonBay Communities (NYSE:AVB)

In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of AvalonBay Communities stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $193.88, for a total transaction of $991,114.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Naughton sold 10,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $191.14, for a total value of $1,911,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,336 shares of company stock worth $8,123,261. Company insiders own 0.53% of the company’s stock.

Several brokerages have commented on AVB. Argus began coverage on shares of AvalonBay Communities in a research report on Thursday. They issued a “buy” rating and a $220.00 price target on the stock. BTIG Research boosted their price target on shares of AvalonBay Communities from $191.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Bank of America Corporation raised AvalonBay Communities from a “neutral” rating to a “buy” rating and set a $202.00 price target on the stock in a research note on Wednesday, March 8th. Jefferies Group LLC reissued a “hold” rating and issued a $196.00 price target on shares of AvalonBay Communities in a research note on Monday, April 24th. Finally, Barclays PLC lifted their price target on AvalonBay Communities from $174.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $195.00.

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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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AVB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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