AvalonBay Communities (NYSE:AVB) PT Raised to $218.00 at Barclays

AvalonBay Communities (NYSE:AVB) had its price objective increased by stock analysts at Barclays from $204.00 to $218.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 15.00% from the company’s previous close.

Several other brokerages also recently commented on AVB. Wolfe Research downgraded shares of AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. The Goldman Sachs Group restated a “neutral” rating and set a $191.00 price objective on shares of AvalonBay Communities in a report on Thursday, February 22nd. Mizuho decreased their price objective on shares of AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of AvalonBay Communities in a report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price objective for the company. Finally, Piper Sandler raised their price objective on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.50.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $189.57 on Monday. The firm has a 50-day moving average of $183.20 and a 200-day moving average of $178.87. The company has a market cap of $26.95 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. AvalonBay Communities has a one year low of $160.45 and a one year high of $198.65.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). The firm had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter in the prior year, the company earned $2.57 EPS. Equities research analysts forecast that AvalonBay Communities will post 10.84 EPS for the current fiscal year.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvalonBay Communities

Hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC purchased a new position in shares of AvalonBay Communities in the third quarter worth $230,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of AvalonBay Communities by 0.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,271 shares of the real estate investment trust’s stock worth $7,431,000 after buying an additional 200 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of AvalonBay Communities by 118.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 318,026 shares of the real estate investment trust’s stock worth $54,618,000 after buying an additional 172,418 shares during the period. Xponance Inc. increased its stake in shares of AvalonBay Communities by 9.4% in the third quarter. Xponance Inc. now owns 23,703 shares of the real estate investment trust’s stock worth $4,071,000 after buying an additional 2,033 shares during the period. Finally, Tectonic Advisors LLC purchased a new position in shares of AvalonBay Communities in the third quarter worth $240,000. 92.61% of the stock is currently owned by institutional investors.

About AvalonBay Communities

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.