Piper Sandler Issues Pessimistic Forecast for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price target reduced by equities researchers at Piper Sandler from $190.00 to $183.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target would suggest a potential upside of 3.20% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company reduced their price objective on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Scotiabank cut 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 report on Tuesday, November 4th. UBS Group reduced their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Colliers Securities reaffirmed a “neutral” rating and issued a $195.00 price objective (down from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Finally, Mizuho cut their price objective on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $201.10.

AvalonBay Communities Trading Up 2.2%

NYSE:AVB opened at $177.32 on Monday. The company has a market capitalization of $25.11 billion, a P/E ratio of 24.03, a PEG ratio of 3.06 and a beta of 0.76. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.79. AvalonBay Communities has a 12 month low of $166.73 and a 12 month high of $230.21. The firm has a fifty day simple moving average of $178.89 and a 200-day simple moving average of $184.27.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The company had revenue of $767.86 million during the quarter, compared to analyst estimates of $766.38 million. During the same quarter last year, the business posted $2.80 EPS. On average, equities research analysts anticipate that AvalonBay Communities will post 11.48 earnings per share for the current year.

Institutional Trading of AvalonBay Communities

A number of hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in AvalonBay Communities during the third quarter valued at $30,000. BOKF NA purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth about $31,000. Elyxium Wealth LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter valued at about $32,000. Clearstead Trust LLC grew its position in shares of AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares during the period. Finally, AlphaQuest LLC purchased a new position in shares of AvalonBay Communities in the 3rd quarter valued at about $33,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

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.