Avalonbay Communities said on May 24, 2023 that its board of directors declared a regular quarterly dividend of $1.65 per share ($6.60 annualized). Previously, the company paid $1.65 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on July 17, 2023.
At the current share price of $171.73 / share, the stock’s dividend yield is 3.84%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.31%, the lowest has been 2.52%, and the highest has been 5.25%. The standard deviation of yields is 0.51 (n=237).
The current dividend yield is 1.04 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.92. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1428 funds or institutions reporting positions in Avalonbay Communities. This is a decrease of 15 owner(s) or 1.04% in the last quarter. Average portfolio weight of all funds dedicated to AVB is 0.45%, a decrease of 1.41%. Total shares owned by institutions decreased in the last three months by 1.34% to 143,899K shares. The put/call ratio of AVB is 1.47, indicating a bearish outlook.
Analyst Price Forecast Suggests 10.86% Upside
As of May 11, 2023, the average one-year price target for Avalonbay Communities is 190.38. The forecasts range from a low of 166.65 to a high of $214.20. The average price target represents an increase of 10.86% from its latest reported closing price of 171.73.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Avalonbay Communities is 2,799MM, an increase of 4.67%. The projected annual non-GAAP EPS is 5.96.
What are Other Shareholders Doing?
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 6,236K shares representing 4.40% ownership of the company. In it’s prior filing, the firm reported owning 6,340K shares, representing a decrease of 1.67%. The firm decreased its portfolio allocation in AVB by 8.71% over the last quarter.
Jpmorgan Chase holds 4,863K shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 4,104K shares, representing an increase of 15.61%. The firm decreased its portfolio allocation in AVB by 85.69% over the last quarter.
Principal Financial Group holds 4,862K shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 4,849K shares, representing an increase of 0.26%. The firm decreased its portfolio allocation in AVB by 43.81% over the last quarter.
Price T Rowe Associates holds 4,834K shares representing 3.41% ownership of the company. In it’s prior filing, the firm reported owning 4,727K shares, representing an increase of 2.21%. The firm decreased its portfolio allocation in AVB by 0.99% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,331K shares representing 3.05% ownership of the company. In it’s prior filing, the firm reported owning 4,251K shares, representing an increase of 1.84%. The firm decreased its portfolio allocation in AVB by 2.12% over the last quarter.
Avalonbay Communities Background Information
(This description is provided by the company.)
The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company’s expansion markets consisting of Southeast Florida and Denver, Colorado.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
