AvalonBay Communities (NYSE:AVB) Hits New 1-Year High at $199.81

AvalonBay Communities, Inc. (NYSE:AVB) hit a new 52-week high during trading on Tuesday . The stock traded as high as $199.81 and last traded at $199.56, with a volume of 16248 shares trading hands. The stock had previously closed at $198.27.

Several equities research analysts have recently commented on AVB shares. Zacks Investment Research raised AvalonBay Communities from a “strong sell” rating to a “hold” rating and set a $200.00 target price for the company in a report on Wednesday, April 14th. Mizuho upped their target price on AvalonBay Communities from $169.00 to $189.00 and gave the company a “neutral” rating in a report on Monday, March 15th. Colliers Securities started coverage on AvalonBay Communities in a report on Wednesday, April 28th. They set a “neutral” rating and a $196.00 target price for the company. KeyCorp raised AvalonBay Communities from a “sector weight” rating to an “overweight” rating and set a $200.00 target price for the company in a report on Monday, March 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a $162.00 price objective (up from $160.00) on shares of AvalonBay Communities in a research note on Tuesday, March 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $184.63.

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The firm has a 50-day simple moving average of $190.89 and a two-hundred day simple moving average of $174.26. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 42.64, a price-to-earnings-growth ratio of 16.32 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, April 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.92). The firm had revenue of $497.44 million during the quarter, compared to analyst estimates of $544.98 million. AvalonBay Communities had a return on equity of 6.02% and a net margin of 27.97%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.39 earnings per share. On average, sell-side analysts forecast that AvalonBay Communities, Inc. will post 8.76 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in shares of AvalonBay Communities by 26.0% during the 1st quarter. First Horizon Advisors Inc. now owns 257 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 53 shares during the last quarter. Parallel Advisors LLC grew its holdings in AvalonBay Communities by 28.7% in the 1st quarter. Parallel Advisors LLC now owns 242 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 54 shares during the last quarter. West Oak Capital LLC grew its holdings in AvalonBay Communities by 5.8% in the 1st quarter. West Oak Capital LLC now owns 1,090 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 60 shares during the last quarter. Lido Advisors LLC grew its holdings in AvalonBay Communities by 1.2% in the 1st quarter. Lido Advisors LLC now owns 5,095 shares of the real estate investment trust’s stock valued at $948,000 after buying an additional 62 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its holdings in AvalonBay Communities by 0.6% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 10,072 shares of the real estate investment trust’s stock valued at $1,858,000 after buying an additional 65 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About AvalonBay Communities (NYSE:AVB)

As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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 markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

Read More: What are the qualifications of a portfolio manager?

Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.