AvalonBay Communities (NYSE:AVB – Get Free Report) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $251.00 to $249.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 20.63% from the company’s current price.
A number of other research firms have also recently weighed in on AVB. BMO Capital Markets cut AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a report on Friday, April 4th. Mizuho lowered their target price on AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Morgan Stanley lifted their price target 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. Barclays increased their price objective on shares of AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Finally, Scotiabank cut their target price on shares of AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating for the company in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $235.86.
View Our Latest Research Report on AVB
AvalonBay Communities Price Performance
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. The firm had revenue of $693.43 million during the quarter, compared to analysts’ expectations of $744.61 million. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. During the same quarter last year, the business earned $2.70 earnings per share. As a group, analysts predict that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Kevin P. O’shea sold 6,000 shares of AvalonBay Communities stock in a transaction on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the transaction, the chief financial officer now owns 22,782 shares in the company, valued at approximately $4,728,859.74. The trade was a 20.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward M. Schulman sold 5,945 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the sale, the executive vice president now directly owns 17,617 shares of the company’s stock, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.
Institutional Trading of AvalonBay Communities
Several large investors have recently bought and sold shares of AVB. Proathlete Wealth Management LLC bought a new stake in shares of AvalonBay Communities in the first quarter worth $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities during the first quarter worth $33,000. Ancora Advisors LLC boosted its holdings in shares of AvalonBay Communities by 1,666.7% in the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 150 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of AvalonBay Communities during the 4th quarter valued at about $36,000. Finally, Crowley Wealth Management Inc. acquired a new stake in AvalonBay Communities during the fourth quarter worth about $44,000. 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.
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