Truist Financial Lowers AvalonBay Communities (NYSE:AVB) Price Target to $205.00

AvalonBay Communities (NYSE:AVB) had its price target decreased by analysts at Truist Financial from $218.00 to $205.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential upside of 12.85% from the company’s current price.

Several other equities analysts have also recently weighed in on AVB. Scotiabank dropped their price target on shares of AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Morgan Stanley cut their target price on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Cantor Fitzgerald started coverage on AvalonBay Communities in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $205.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $206.73.

AvalonBay Communities Price Performance

Shares of AVB opened at $181.66 on Tuesday. The business’s fifty day moving average is $183.06 and its 200 day moving average is $192.98. AvalonBay Communities has a 12-month low of $166.73 and a 12-month high of $231.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock has a market cap of $25.72 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.96 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.The business had revenue of $766.80 million for the quarter, compared to analyst estimates of $766.22 million. During the same quarter in the previous year, the company posted $2.74 EPS. Sell-side analysts anticipate that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AvalonBay Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. Swiss Life Asset Management Ltd raised its position in AvalonBay Communities by 90.4% in the third quarter. Swiss Life Asset Management Ltd now owns 20,558 shares of the real estate investment trust’s stock worth $3,971,000 after acquiring an additional 9,762 shares during the period. Cambria Investment Management L.P. increased its stake in shares of AvalonBay Communities by 15.6% during the 3rd quarter. Cambria Investment Management L.P. now owns 2,893 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 390 shares during the last quarter. Prana Capital Management LP purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $2,012,000. CIBC Bancorp USA Inc. bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth approximately $11,058,000. Finally, First Affirmative Financial Network purchased a new position in AvalonBay Communities in the third quarter valued at approximately $202,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

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.