AvalonBay Communities, Inc. (NYSE:AVB) Receives $196.87 Consensus Price Target from Analysts

AvalonBay Communities, Inc. (NYSE:AVB) has received an average rating of “Hold” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. Fifteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $196.8667.

Several research firms recently commented on AVB. Weiss Ratings cut AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Scotiabank boosted their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 9th. Piper Sandler upped their target price on AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Truist Financial raised their target price on AvalonBay Communities from $201.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Finally, Barclays lifted their price target on AvalonBay Communities from $205.00 to $206.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $184.06 on Tuesday. The stock has a market cap of $26.28 billion, a PE ratio of 30.08, a P/E/G ratio of 2.98 and a beta of 0.76. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74. AvalonBay Communities has a 12-month low of $160.10 and a 12-month high of $198.63. The company has a 50-day moving average of $186.42 and a 200 day moving average of $181.49.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period last year, the business earned $2.82 earnings per share. As a group, sell-side analysts predict that AvalonBay Communities will post 11.33 EPS for the current fiscal year.

Institutional Investors Weigh In On AvalonBay Communities

Several hedge funds and other institutional investors have recently bought and sold shares of the company. B&I Capital AG purchased a new position in AvalonBay Communities in the first quarter worth approximately $11,194,000. Empyrean Capital Partners LP purchased a new stake in AvalonBay Communities in the first quarter valued at $9,474,000. Pacer Advisors Inc. raised its position in AvalonBay Communities by 42.5% in the fourth quarter. Pacer Advisors Inc. now owns 16,167 shares of the real estate investment trust’s stock valued at $2,931,000 after purchasing an additional 4,820 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of AvalonBay Communities by 2.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 258,889 shares of the real estate investment trust’s stock valued at $46,939,000 after purchasing an additional 5,676 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of AvalonBay Communities in the 2nd quarter valued at $87,457,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a real estate investment trust that develops, owns, and manages multifamily apartment communities. The company focuses primarily on high-demand markets with barriers to new housing supply, offering apartment homes to residents across a range of price points and community types.

AvalonBay’s portfolio and development activities are concentrated in metropolitan areas along the Northeast, Mid-Atlantic, Pacific Northwest, and Southern and Northern California coasts.