Scotiabank Cuts AvalonBay Communities (NYSE:AVB) Price Target to $187.00

AvalonBay Communities (NYSE:AVB) had its price target cut by stock analysts at Scotiabank from $190.00 to $187.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 0.29% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup cut their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a research report on Thursday, March 26th. Cantor Fitzgerald increased their target price on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada lifted their price target on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $197.07.

AvalonBay Communities Trading Down 0.3%

Shares of AvalonBay Communities stock opened at $186.45 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The business has a fifty day simple moving average of $172.65 and a two-hundred day simple moving average of $176.61. 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 $25.94 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 3.22 and a beta of 0.79.

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

Institutional Trading of AvalonBay Communities

A number of institutional investors have recently modified their holdings of the stock. Reflection Asset Management acquired a new position in AvalonBay Communities in the fourth quarter valued at about $25,000. Clearstead Trust LLC grew its stake in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Zions Bancorporation National Association UT grew its stake in AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares in the last quarter. BOKF NA bought a new position in AvalonBay Communities in the 3rd quarter valued at about $31,000. Finally, Elyxium Wealth LLC bought a new position in AvalonBay Communities in the 4th quarter valued at about $32,000. 92.61% of the stock is currently owned by 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.