AvalonBay Communities (NYSE:AVB) PT Raised to $230.00

AvalonBay Communities (NYSE:AVB) had its price objective lifted by stock analysts at Piper Sandler from $207.00 to $230.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price points to a potential upside of 21.33% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Wolfe Research downgraded AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $191.50 in a research report on Monday, February 26th. KeyCorp reissued a “sector weight” rating on shares of AvalonBay Communities in a research report on Friday, January 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price target for the company. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.50.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $189.57 on Monday. The firm has a market capitalization of $26.95 billion, a P/E ratio of 28.21, a PEG ratio of 3.23 and a beta of 0.92. The stock has a fifty day moving average price of $183.20 and a 200 day moving average price of $178.87. AvalonBay Communities has a 52 week low of $160.45 and a 52 week high of $198.65. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter in the previous year, the company posted $2.57 earnings per share. Equities research analysts anticipate that AvalonBay Communities will post 10.84 earnings per share for the current year.

Insider Activity at AvalonBay Communities

In related news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AVB. Neo Ivy Capital Management acquired a new stake in AvalonBay Communities during the third quarter valued at approximately $3,610,000. Ferguson Wellman Capital Management Inc. raised its position in shares of AvalonBay Communities by 2.1% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock worth $46,561,000 after purchasing an additional 5,061 shares during the period. Delta Investment Management LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $873,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of AvalonBay Communities by 2.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 994,505 shares of the real estate investment trust’s stock worth $186,191,000 after purchasing an additional 21,760 shares during the period. Finally, Sterling Investment Management LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $1,625,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.