AvalonBay Communities (NYSE:AVB) Earns “Equal Weight” Rating from Barclays

AvalonBay Communities (NYSE:AVB)‘s stock had its “equal weight” rating restated by research analysts at Barclays in a report issued on Tuesday,Benzinga reports. They presently have a $205.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $203.00. Barclays‘s price objective would suggest a potential upside of 5.32% from the company’s current price.

AVB has been the subject of several other research reports. Royal Bank Of Canada raised their target price on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Piper Sandler boosted their price target on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank raised their price objective on shares of AvalonBay Communities from $187.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. Finally, UBS Group lowered their price objective on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $195.80.

AvalonBay Communities Stock Up 1.5%

AvalonBay Communities stock opened at $194.65 on Tuesday. The stock has a market cap of $27.65 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 3.34 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $186.36 and its two-hundred day moving average price is $178.85. AvalonBay Communities has a 52 week low of $160.10 and a 52 week high of $205.00.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data 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). The company had revenue of $770.28 million for 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 prior year, the business earned $2.83 EPS. On average, analysts expect that AvalonBay Communities will post 11.28 EPS for the current fiscal year.

Institutional Trading of AvalonBay Communities

A number of hedge funds have recently modified their holdings of AVB. Pensionfund PDN purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth about $3,648,000. Nordea Investment Management AB grew its stake in shares of AvalonBay Communities by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock valued at $80,449,000 after buying an additional 17,352 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in AvalonBay Communities in the fourth quarter worth approximately $26,237,000. CIBC Bancorp USA Inc. acquired a new position in AvalonBay Communities in the third quarter worth approximately $11,058,000. Finally, Principal Financial Group Inc. raised its position in AvalonBay Communities by 9.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust’s stock valued at $815,360,000 after acquiring an additional 383,983 shares in the last quarter. Hedge funds and other 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.