UBS Group Has Lowered Expectations for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price objective lowered by analysts at UBS Group from $192.00 to $191.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target indicates a potential upside of 6.42% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Truist Financial lowered their price objective on shares of AvalonBay Communities from $218.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Cantor Fitzgerald initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 target price for the company. Colliers Securities restated a “neutral” rating and issued a $195.00 target price (down previously from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research report on Tuesday, October 14th. Finally, Royal Bank Of Canada cut their price target on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $205.82.

AvalonBay Communities Trading Down 2.5%

Shares of AvalonBay Communities stock opened at $179.48 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 0.67. AvalonBay Communities has a 52 week low of $166.73 and a 52 week high of $230.21. The stock has a 50 day moving average price of $179.56 and a two-hundred day moving average price of $188.43. The stock has a market capitalization of $25.41 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 3.13 and a beta of 0.75.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a return on equity of 9.72% and a net margin of 38.78%.The firm had revenue of $766.80 million for the quarter, compared to analyst estimates of $766.22 million. During the same period in the previous year, the company earned $2.74 earnings per share. As a group, equities 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 modified their holdings of AVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AvalonBay Communities by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,245 shares of the real estate investment trust’s stock valued at $5,847,000 after acquiring an additional 292 shares during the last quarter. MBB Public Markets I LLC bought a new position in AvalonBay Communities in the 1st quarter valued at $309,000. Empowered Funds LLC increased its position in shares of AvalonBay Communities by 5.7% during the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock valued at $584,000 after purchasing an additional 148 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of AvalonBay Communities by 52.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 475 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 163 shares during the last quarter. Finally, Intrua Financial LLC raised its stake in shares of AvalonBay Communities by 139.2% during the 1st quarter. Intrua Financial LLC now owns 3,181 shares of the real estate investment trust’s stock worth $683,000 after purchasing an additional 1,851 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.