Piper Sandler Issues Pessimistic Forecast for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price target decreased by Piper Sandler from $265.00 to $255.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 22.61% from the stock’s current price.

Several other brokerages also recently weighed in on AVB. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Evercore ISI raised their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. BMO Capital Markets lowered AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 target price on the stock. in a research report on Friday, April 4th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Finally, Barclays increased their price objective on shares of AvalonBay Communities from $226.00 to $227.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $238.57.

AvalonBay Communities Stock Performance

AVB stock opened at $207.97 on Monday. AvalonBay Communities has a 1-year low of $180.40 and a 1-year high of $239.29. The business has a 50-day moving average price of $208.19 and a 200 day moving average price of $217.91. The company has a market capitalization of $29.61 billion, a P/E ratio of 27.40, a PEG ratio of 3.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The firm had revenue of $693.43 million during the quarter, compared to analysts’ expectations of $744.61 million. During the same quarter in the prior year, the company earned $2.70 EPS. As a group, equities research analysts forecast that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

Institutional Trading of AvalonBay Communities

Hedge funds have recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its position in AvalonBay Communities by 29.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 288 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in AvalonBay Communities by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock worth $914,627,000 after buying an additional 55,588 shares in the last quarter. Hsbc Holdings PLC grew its position in AvalonBay Communities by 1.4% during the fourth quarter. Hsbc Holdings PLC now owns 604,010 shares of the real estate investment trust’s stock valued at $132,751,000 after buying an additional 8,439 shares during the period. West Oak Capital LLC increased its holdings in AvalonBay Communities by 875.3% in the fourth quarter. West Oak Capital LLC now owns 15,800 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 14,180 shares in the last quarter. Finally, Portfolio Design Labs LLC raised its position in shares of AvalonBay Communities by 27.0% in the fourth quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust’s stock worth $4,918,000 after acquiring an additional 4,747 shares during the period. Hedge funds and other institutional investors own 92.61% 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: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.