AvalonBay Communities (NYSE:AVB) was downgraded by investment analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Friday, Marketbeat.com reports. They currently have a $211.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s price target indicates a potential upside of 15.70% from the company’s current price.
Several other research analysts have also recently weighed in on AVB. UBS upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $206.00 in a report on Thursday, November 9th. Mizuho reaffirmed a “buy” rating and issued a $220.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 6th. Evercore ISI raised shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective on the stock in a research report on Monday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $209.00 price objective on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Finally, KeyCorp reaffirmed a “hold” rating on shares of AvalonBay Communities in a research report on Sunday, September 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $201.40.
AvalonBay Communities (NYSE AVB) traded up $0.06 during trading hours on Friday, reaching $182.37. 341,200 shares of the company’s stock were exchanged, compared to its average volume of 672,529. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market capitalization of $25,174.81, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.35. AvalonBay Communities has a 1-year low of $168.47 and a 1-year high of $199.52.
In related news, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total transaction of $365,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. The disclosure for this sale can be found here. In the last three months, insiders sold 30,660 shares of company stock worth $5,628,669. Insiders own 0.46% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Creative Planning increased its holdings in AvalonBay Communities by 0.4% during the 2nd quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 2 shares during the period. Amica Retiree Medical Trust purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $132,000. WFG Advisors LP grew its stake in AvalonBay Communities by 24.9% in the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in AvalonBay Communities in the 2nd quarter worth approximately $226,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in AvalonBay Communities in the 3rd quarter worth approximately $227,000. 95.07% of the stock is currently owned by institutional investors and hedge funds.
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About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
