AvalonBay Communities Hits New 52-Week High on Analyst Upgrade (AVB)
Shares of AvalonBay Communities (NYSE:AVB) reached a new 52-week high on Thursday after Deutsche Bank raised their price target on the stock from $138.00 to $147.00, StockRatingsNetwork.com reports. Deutsche Bank currently has a buy rating on the stock. AvalonBay Communities traded as high as $144.83 and last traded at $144.09, with a volume of 277,353 shares traded. The stock had previously closed at $143.51.
A number of other firms have also recently commented on AVB. Analysts at JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $153.00 to $158.00 in a research note on Friday, June 20th. They now have an “overweight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of AvalonBay Communities in a research note on Wednesday, May 14th. They now have a $146.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of AvalonBay Communities from $139.00 to $140.00 in a research note on Monday, May 5th. They now have an “equal weight” rating on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $142.50.
The stock has a 50-day moving average of $141. and a 200-day moving average of $132.1. The company has a market cap of $18.683 billion and a price-to-earnings ratio of 44.29.
AvalonBay Communities (NYSE:AVB) last released its earnings data on Wednesday, April 23rd. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.63 by $0.01. The company had revenue of $400.70 million for the quarter, compared to the consensus estimate of $393.78 million. During the same quarter in the prior year, the company posted $1.36 earnings per share. Analysts expect that AvalonBay Communities will post $6.77 EPS for the current fiscal year.
AvalonBay Communities, Inc is a real estate investment trust (NYSE:AVB) .
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