AvalonBay Communities (NYSE:AVB – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.
A number of other analysts also recently commented on the company. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. Royal Bank Of Canada cut their target price on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Piper Sandler decreased their price target on shares of AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Mizuho lowered their price target on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Finally, Morgan Stanley raised their price objective on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $235.86.
View Our Latest Analysis on AVB
AvalonBay Communities Price Performance
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The business had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. During the same quarter in the prior year, the business earned $2.70 earnings per share. Analysts expect that AvalonBay Communities will post 11.48 EPS for the current year.
Insider Activity at AvalonBay Communities
In other news, EVP Edward M. Schulman sold 5,945 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the transaction, the executive vice president now directly owns 17,617 shares of the company’s stock, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin P. O’shea sold 6,000 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the sale, the chief financial officer now owns 22,782 shares in the company, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.
Institutional Trading of AvalonBay Communities
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Baker Tilly Wealth Management LLC lifted its position in AvalonBay Communities by 1.8% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 58 shares in the last quarter. Golden State Equity Partners raised its stake in shares of AvalonBay Communities by 3.7% in the first quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 60 shares during the last quarter. Signaturefd LLC lifted its position in shares of AvalonBay Communities by 4.0% during the fourth quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 62 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of AvalonBay Communities by 2.6% during the fourth quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 63 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of AvalonBay Communities by 1.0% during the first quarter. Benjamin Edwards Inc. now owns 6,417 shares of the real estate investment trust’s stock valued at $1,377,000 after purchasing an additional 64 shares during the last quarter. 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.
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