Citigroup Issues Pessimistic Forecast for AvalonBay Communities (NYSE:AVB) Stock Price

by · The Markets Daily

AvalonBay Communities (NYSE:AVB – Get Free Report) had its price objective dropped by analysts at Citigroup from $212.00 to $198.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price target would indicate a potential upside of 11.90% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Truist Financial reduced their target price on AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. UBS Group cut their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Royal Bank Of Canada lowered their price target on shares of AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. Finally, Piper Sandler reduced their target price on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Monday. Five analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $200.91.

Read Our Latest Research Report on AvalonBay Communities

AvalonBay Communities Trading Up 1.0%

Shares of NYSE AVB traded up $1.68 during trading on Friday, hitting $176.94. 262,912 shares of the company traded hands, compared to its average volume of 1,248,798. The company has a 50-day moving average price of $178.78 and a 200-day moving average price of $184.17. The firm has a market capitalization of $25.05 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.16 and a beta of 0.76. AvalonBay Communities has a 1 year low of $166.73 and a 1 year high of $230.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB – Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. The firm had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same quarter in the prior year, the business posted $2.80 earnings per share. On average, equities analysts predict that AvalonBay Communities will post 11.48 EPS for the current year.

Institutional Investors Weigh In On AvalonBay Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth about $30,000. Zions Bancorporation National Association UT lifted 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 worth $29,000 after acquiring an additional 120 shares during the period. Clearstead Trust LLC boosted its position in AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. BOKF NA purchased a new position in shares of AvalonBay Communities in the 3rd quarter worth approximately $31,000. Finally, AlphaQuest LLC purchased a new position in AvalonBay Communities during the 3rd quarter worth $33,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

(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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