AvalonBay Communities, Inc. (NYSE:AVB) Receives $197.27 Average Target Price from Analysts

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given a consensus recommendation of “Hold” by the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $196.9333.

A number of research firms have recently issued reports on AVB. Truist Financial lowered their target price on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Piper Sandler lowered their target price on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday, February 9th. Citigroup dropped their price target on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Wells Fargo & Company decreased their target price on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Finally, Scotiabank dropped their price objective on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating on the stock in a research note on Thursday.

AvalonBay Communities Stock Down 1.6%

Shares of NYSE AVB opened at $180.66 on Wednesday. The stock has a market cap of $25.13 billion, a PE ratio of 26.18, a P/E/G ratio of 3.16 and a beta of 0.79. The company has a 50-day moving average of $172.83 and a 200 day moving average of $176.60. AvalonBay Communities has a 12-month low of $160.10 and a 12-month high of $209.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. During the same period in the previous year, the company earned $2.83 EPS. As a group, sell-side analysts predict that AvalonBay Communities will post 11.31 EPS for the current fiscal year.

Institutional Trading of AvalonBay Communities

Several hedge funds have recently added to or reduced their stakes in AVB. Clearstead Trust LLC lifted its stake in shares of AvalonBay Communities by 56.0% in the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in AvalonBay Communities by 1.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 60 shares in the last quarter. PFG Investments LLC increased its position in AvalonBay Communities by 4.4% in the 3rd quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust’s stock valued at $281,000 after acquiring an additional 61 shares in the last quarter. Keybank National Association OH raised its position in shares of AvalonBay Communities by 2.6% during the fourth quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 62 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of AvalonBay Communities by 13.3% in the 3rd quarter. Global Retirement Partners LLC now owns 564 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

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.