Colliers Securities Reaffirms “Neutral” Rating for AvalonBay Communities (NYSE:AVB)

AvalonBay Communities (NYSE:AVB)‘s stock had its “neutral” rating restated by research analysts at Colliers Securities in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $195.00 target price on the real estate investment trust’s stock, down from their prior target price of $200.00. Colliers Securities’ price objective indicates a potential upside of 9.63% from the stock’s previous close.

AVB has been the subject of a number of other research reports. Truist Financial cut their price objective on shares of AvalonBay Communities from $218.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank Of Canada reduced their price objective on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Morgan Stanley lowered their price objective on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research note on Tuesday, October 14th. Finally, BNP Paribas cut shares of AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Six analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $205.89.

AvalonBay Communities Trading Down 0.9%

Shares of AVB stock opened at $177.87 on Thursday. AvalonBay Communities has a fifty-two week low of $166.73 and a fifty-two week high of $231.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average is $182.47 and its two-hundred day moving average is $192.67. The firm has a market capitalization of $25.19 billion, a P/E ratio of 21.72, a PEG ratio of 2.96 and a beta of 0.74.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). The business had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. During the same quarter last year, the company earned $2.74 earnings per share. Research analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in AvalonBay Communities in the 2nd quarter valued at approximately $1,394,225,000. Nuveen LLC acquired a new position in AvalonBay Communities during the first quarter worth $280,226,000. Invesco Ltd. boosted its position in shares of AvalonBay Communities by 70.2% during the second quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock worth $527,823,000 after buying an additional 1,069,793 shares during the period. Bank of America Corp DE grew its stake in shares of AvalonBay Communities by 76.0% in the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock valued at $455,077,000 after buying an additional 1,017,286 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of AvalonBay Communities by 23.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,816,163 shares of the real estate investment trust’s stock valued at $573,091,000 after buying an additional 530,274 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.