Evercore ISI Increases AvalonBay Communities (NYSE:AVB) Price Target to $225.00

AvalonBay Communities (NYSE:AVB) had its target price hoisted by analysts at Evercore ISI from $223.00 to $225.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential upside of 0.63% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada upped their target price on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Truist Financial upped their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Scotiabank lifted their price objective on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $214.59.

AvalonBay Communities Trading Down 1.3 %

AvalonBay Communities stock opened at $223.60 on Monday. AvalonBay Communities has a 12-month low of $160.45 and a 12-month high of $230.04. The stock has a market capitalization of $31.80 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The firm has a 50 day simple moving average of $211.49 and a 200-day simple moving average of $197.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The firm had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same quarter last year, the business posted $2.66 earnings per share. As a group, equities research analysts expect that AvalonBay Communities will post 11 EPS for the current fiscal year.

Insider Activity

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

Institutional Trading of AvalonBay Communities

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC lifted its stake in AvalonBay Communities by 12.0% in the fourth quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $380,000 after buying an additional 217 shares during the period. Principal Securities Inc. bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at $137,000. Jump Financial LLC raised its stake in AvalonBay Communities by 53.3% during the 4th quarter. Jump Financial LLC now owns 3,680 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 1,280 shares during the period. QRG Capital Management Inc. lifted its stake in AvalonBay Communities by 2.8% in the fourth quarter. QRG Capital Management Inc. now owns 5,860 shares of the real estate investment trust’s stock valued at $1,097,000 after buying an additional 162 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of AvalonBay Communities by 30.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,883 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

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.