AvalonBay Communities (NYSE:AVB) PT Raised to $218.00

AvalonBay Communities (NYSE:AVB) had its target price boosted by investment analysts at Scotiabank from $213.00 to $218.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 4.76% from the company’s previous close.

Several other equities analysts have also issued reports on AVB. Truist Financial raised their price objective on AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a report on Monday, June 24th. Evercore ISI increased their price objective on AvalonBay Communities from $205.00 to $207.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. Barclays lifted their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their target price on AvalonBay Communities from $210.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley upped their price target on AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and an average target price of $210.59.

AvalonBay Communities Stock Down 0.5 %

Shares of AVB stock traded down $1.07 during trading on Wednesday, reaching $208.09. The company’s stock had a trading volume of 336,966 shares, compared to its average volume of 726,067. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.07 and a quick ratio of 1.07. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $218.79. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 3.09 and a beta of 0.96. The stock’s 50-day moving average price is $202.87 and its 200 day moving average price is $190.77.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the prior year, the company posted $2.66 earnings per share. On average, research analysts anticipate that AvalonBay Communities will post 10.97 EPS for the current year.

Institutional Investors Weigh In On AvalonBay Communities

Large investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities in the 2nd quarter worth about $32,000. Versant Capital Management Inc raised its position in shares of AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares in the last quarter. Byrne Asset Management LLC raised its holdings in AvalonBay Communities by 270.0% during the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 135 shares in the last quarter. BROOKFIELD Corp ON bought a new stake in shares of AvalonBay Communities during the 1st quarter worth $39,000. Finally, Pinnacle Bancorp Inc. raised its position in shares of AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.