AvalonBay Communities (NYSE:AVB) had its target price lowered by Barclays from $189.00 to $186.00 in a report released on Tuesday. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays’ target price points to a potential upside of 11.46% from the stock’s previous close.
Other analysts also recently issued research reports about the company. SunTrust Banks set a $194.00 price objective on AvalonBay Communities and gave the stock a “buy” rating in a research note on Monday, January 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 price objective on shares of AvalonBay Communities in a research note on Friday, January 19th. Robert W. Baird reaffirmed a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, January 9th. UBS Group raised AvalonBay Communities from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. Finally, Mizuho reaffirmed a “buy” rating and issued a $220.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $198.88.
AvalonBay Communities (NYSE:AVB) traded down $1.38 during trading hours on Tuesday, reaching $166.87. The company’s stock had a trading volume of 553,756 shares, compared to its average volume of 591,602. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities has a 1-year low of $166.85 and a 1-year high of $199.52. The company has a market cap of $23,040.00, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in AvalonBay Communities by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock valued at $568,255,000 after acquiring an additional 276,035 shares during the last quarter. Principal Financial Group Inc. grew its position in AvalonBay Communities by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after acquiring an additional 138,649 shares during the last quarter. PGGM Investments grew its position in AvalonBay Communities by 21.4% in the 4th quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock valued at $355,571,000 after acquiring an additional 350,790 shares during the last quarter. Dimensional Fund Advisors LP grew its position in AvalonBay Communities by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,951,873 shares of the real estate investment trust’s stock valued at $348,254,000 after acquiring an additional 38,163 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in AvalonBay Communities by 6.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,299,049 shares of the real estate investment trust’s stock valued at $231,764,000 after acquiring an additional 75,452 shares during the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.
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.
