AvalonBay Communities (NYSE:AVB) Price Target Cut to $189.00 by Analysts at UBS Group

AvalonBay Communities (NYSE:AVB) had its target price lowered by research analysts at UBS Group from $191.00 to $189.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would indicate a potential upside of 2.97% from the stock’s current price.

AVB has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a report on Tuesday, January 20th. Morgan Stanley reiterated an “equal weight” rating and set a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a report on Thursday, March 26th. Barclays lowered their price target on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a report on Monday. Cantor Fitzgerald upped their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $196.93.

AvalonBay Communities Price Performance

AVB stock traded down $2.91 during midday trading on Thursday, reaching $183.55. The company had a trading volume of 1,172,874 shares, compared to its average volume of 1,094,223. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. AvalonBay Communities has a 1 year low of $160.10 and a 1 year high of $209.86. The company has a market capitalization of $25.53 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.22 and a beta of 0.79. The firm has a 50-day moving average price of $172.65 and a 200-day moving average price of $176.61.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The company had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same period in the prior year, the firm earned $2.83 EPS. On average, research analysts anticipate that AvalonBay Communities will post 11.31 earnings per share for the current fiscal year.

Institutional Trading of AvalonBay Communities

Several institutional investors have recently bought and sold shares of AVB. Auto Owners Insurance Co lifted its stake in AvalonBay Communities by 18,031.0% during the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after acquiring an additional 11,720,150 shares during the period. Norges Bank bought a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AvalonBay Communities by 15,065.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock worth $326,552,000 after purchasing an additional 1,789,195 shares during the period. Bank of America Corp DE raised its stake in AvalonBay Communities by 76.0% during the 3rd quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock worth $455,077,000 after acquiring an additional 1,017,286 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in AvalonBay Communities by 22.4% during the 4th quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock worth $935,551,000 after acquiring an additional 944,129 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.