AvalonBay Communities (NYSE:AVB) Price Target Raised to $195.00

by · The Markets Daily

AvalonBay Communities (NYSE:AVB – Get Free Report) had its price target increased by investment analysts at Scotiabank from $187.00 to $195.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 2.79% from the company’s previous close.

AVB has been the subject of a number of other research reports. Wells Fargo & Company decreased their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. UBS Group dropped their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Barclays reduced their price objective on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Royal Bank Of Canada increased their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler lifted their target price on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $195.67.

View Our Latest Report on AVB

AvalonBay Communities Trading Up 0.3%

Shares of AvalonBay Communities stock traded up $0.59 during trading on Thursday, hitting $189.71. The company’s stock had a trading volume of 119,532 shares, compared to its average volume of 1,110,063. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. AvalonBay Communities has a 52 week low of $160.10 and a 52 week high of $205.00. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.77. The stock has a 50-day moving average price of $185.86 and a two-hundred day moving average price of $178.62.

AvalonBay Communities (NYSE:AVB – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The company had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same quarter in the previous year, the company earned $2.83 earnings per share. Equities research analysts anticipate that AvalonBay Communities will post 11.28 EPS for the current fiscal year.

Hedge Funds Weigh In On AvalonBay Communities

Several institutional investors have recently added to or reduced their stakes in the business. Reflection Asset Management bought a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $25,000. Clearstead Trust LLC boosted its stake in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. Zions Bancorporation National Association UT increased its stake in AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA bought a new position in shares of AvalonBay Communities during the 3rd quarter worth about $31,000. Finally, Elyxium Wealth LLC bought a new stake in AvalonBay Communities in the 4th quarter valued at about $32,000. 92.61% of the stock is owned by institutional investors and hedge funds.

About AvalonBay Communities

(Get Free Report)

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.

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