Barclays Raises AvalonBay Communities (NYSE:AVB) Price Target to $218.00

AvalonBay Communities (NYSE:AVB) had its target price lifted by Barclays from $204.00 to $218.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on AVB. Morgan Stanley upgraded AvalonBay Communities from an equal weight rating to an overweight rating and lifted their price target for the company from $175.00 to $191.50 in a report on Monday, February 26th. Mizuho reduced their target price on shares of AvalonBay Communities from $188.00 to $185.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. Royal Bank of Canada increased their price target on shares of AvalonBay Communities from $191.00 to $196.00 and gave the stock a sector perform rating in a research note on Monday. Truist Financial reduced their price objective on shares of AvalonBay Communities from $201.00 to $197.00 and set a hold rating for the company in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of AvalonBay Communities in a research report on Tuesday, January 30th. They set a buy rating and a $206.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities presently has an average rating of Moderate Buy and a consensus price target of $200.50.

AvalonBay Communities Stock Down 0.9 %

AVB stock opened at $187.93 on Monday. The company has a 50 day moving average of $183.39 and a two-hundred day moving average of $178.93. The company has a market cap of $26.72 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.22 and a beta of 0.92. AvalonBay Communities has a 12-month low of $160.45 and a 12-month high of $198.65. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The company had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period last year, the company posted $2.57 earnings per share. On average, equities analysts anticipate that AvalonBay Communities will post 10.85 earnings per share for the current fiscal year.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction that occurred on 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 approximately $4,054,985.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now 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. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On AvalonBay Communities

A number of hedge funds have recently modified their holdings of AVB. Byrne Asset Management LLC boosted its stake in AvalonBay Communities by 270.0% in the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 135 shares in the last quarter. Castleview Partners LLC boosted its stake in shares of AvalonBay Communities by 1,542.9% in the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 216 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth about $45,000. Finally, Lindbrook Capital LLC increased its position in shares of AvalonBay Communities by 53.7% during the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 109 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

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.