AvalonBay Communities (NYSE:AVB) Price Target Cut to $236.00 by Analysts at Scotiabank

AvalonBay Communities (NYSE:AVB) had its target price decreased by equities research analysts at Scotiabank from $251.00 to $236.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 14.57% from the stock’s previous close.

Several other research firms have also issued reports on AVB. BMO Capital Markets lowered shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target for the company. in a research report on Friday, April 4th. Morgan Stanley lifted their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 15th. Piper Sandler lowered their target price on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Wall Street Zen lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Finally, Truist Financial lifted their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $236.79.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $205.99 on Friday. The stock has a market capitalization of $29.33 billion, a P/E ratio of 27.14, a P/E/G 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. The business has a 50-day moving average of $204.19 and a two-hundred day moving average of $213.32. AvalonBay Communities has a fifty-two week low of $180.40 and a fifty-two week high of $239.29.

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

Institutional Investors Weigh In On AvalonBay Communities

Several institutional investors and hedge funds have recently made changes to their positions in AVB. Stratos Wealth Partners LTD. lifted 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 valued at $277,000 after acquiring an additional 288 shares in the last quarter. Hsbc Holdings PLC boosted 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 worth $132,751,000 after purchasing an additional 8,439 shares during the period. Sei Investments Co. raised its holdings in AvalonBay Communities by 14.1% during the 4th quarter. Sei Investments Co. now owns 344,139 shares of the real estate investment trust’s stock valued at $75,701,000 after acquiring an additional 42,416 shares during the period. Savant Capital LLC grew its holdings in AvalonBay Communities by 8.7% during the 4th quarter. Savant Capital LLC now owns 1,264 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 101 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of AvalonBay Communities by 466.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,088 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 896 shares in the last quarter. Institutional investors and hedge funds 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.