AvalonBay Communities, Inc. (NYSE:AVB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given an average recommendation of “Hold” by the eighteen research firms that are currently covering the firm, MarketBeat reports. Thirteen analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $198.4375.

Several research firms recently weighed in on AVB. Wells Fargo & Company decreased their price target on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Truist Financial decreased their price target on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada increased their price target on AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price on the stock in a research note on Monday, June 1st. Finally, Barclays reduced their target price on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th.

Institutional Trading of AvalonBay Communities

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Trust LLC increased its stake in AvalonBay Communities by 56.0% in the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in AvalonBay Communities by 1.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 60 shares during the period. Keybank National Association OH increased its stake in AvalonBay Communities by 2.6% in the fourth quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 62 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in AvalonBay Communities by 1.5% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,779 shares of the real estate investment trust’s stock worth $1,116,000 after purchasing an additional 84 shares during the period. Finally, Arbor Capital Management Inc. ADV increased its stake in AvalonBay Communities by 1.4% in the first quarter. Arbor Capital Management Inc. ADV now owns 6,540 shares of the real estate investment trust’s stock worth $1,090,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE:AVB opened at $189.72 on Friday. The stock’s fifty day moving average is $177.59 and its 200 day moving average is $177.38. AvalonBay Communities has a fifty-two week low of $160.10 and a fifty-two week high of $209.86. The firm has a market capitalization of $26.39 billion, a PE ratio of 27.50, a PEG ratio of 3.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The company had revenue of $770.28 million for the quarter, compared to analysts’ expectations of $768.80 million. During the same quarter in the previous year, the company posted $2.83 EPS. On average, sell-side analysts anticipate that AvalonBay Communities will post 11.31 earnings per share for the current year.

About AvalonBay Communities

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.