AvalonBay Communities (NYSE:AVB) had its target price lifted by stock analysts at Truist Securities from $228.00 to $249.00 in a report released on Monday, Stock Target Advisor reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Securities’ price target would suggest a potential upside of 2.57% from the stock’s previous close.
Several other equities analysts also recently issued reports on AVB. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and set a $265.00 price objective for the company in a research report on Monday, November 8th. Wells Fargo & Company upped their target price on AvalonBay Communities from $242.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, November 22nd. The Goldman Sachs Group initiated coverage on AvalonBay Communities in a report on Thursday, September 23rd. They set a “buy” rating and a $257.00 price target for the company. Barclays started coverage on AvalonBay Communities in a report on Wednesday, September 1st. They set an “underweight” rating and a $225.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on AvalonBay Communities from $238.00 to $242.00 and gave the stock a “sector perform” rating in a research report on Friday, October 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $232.33.
Shares of AvalonBay Communities stock traded up $4.81 during mid-day trading on Monday, hitting $242.77. 6,213 shares of the stock were exchanged, compared to its average volume of 712,970. The stock has a market capitalization of $33.92 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 6.82 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.72. AvalonBay Communities has a twelve month low of $154.84 and a twelve month high of $247.45. The company has a 50-day simple moving average of $234.32 and a 200 day simple moving average of $224.84.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Tuesday, October 26th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($1.43). AvalonBay Communities had a net margin of 44.91% and a return on equity of 9.37%. During the same quarter last year, the company posted $2.06 earnings per share. Equities research analysts forecast that AvalonBay Communities will post 8.24 earnings per share for the current fiscal year.
In other news, EVP Edward M. Schulman sold 245 shares of the business’s stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $240.94, for a total value of $59,030.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William M. Mclaughlin sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $243.79, for a total transaction of $1,218,950.00. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AVB. National Pension Service raised its stake in AvalonBay Communities by 10.9% in the 3rd quarter. National Pension Service now owns 203,030 shares of the real estate investment trust’s stock valued at $45,000,000 after purchasing an additional 19,956 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of AvalonBay Communities during the 3rd quarter valued at approximately $807,000. Cetera Advisors LLC grew its holdings in shares of AvalonBay Communities by 26.8% during the 3rd quarter. Cetera Advisors LLC now owns 3,524 shares of the real estate investment trust’s stock worth $781,000 after purchasing an additional 744 shares during the period. Corient Capital Partners LLC increased its position in shares of AvalonBay Communities by 8.9% during the third quarter. Corient Capital Partners LLC now owns 1,659 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 135 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of AvalonBay Communities by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 233,986 shares of the real estate investment trust’s stock valued at $51,861,000 after buying an additional 1,143 shares during the period. Institutional investors own 87.39% of the company’s stock.
About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.