AvalonBay Communities (NYSE:AVB) PT Raised to $229.00

AvalonBay Communities (NYSE:AVB) had its price objective upped by Evercore ISI from $225.00 to $229.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

AVB has been the topic of a number of other reports. Piper Sandler boosted their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Scotiabank boosted their price target on shares of AvalonBay Communities from $218.00 to $229.00 and gave the company a sector perform rating in a report on Monday, August 26th. Zelman & Associates upgraded AvalonBay Communities to a hold rating in a report on Thursday, September 5th. Wells Fargo & Company lifted their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an overweight rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada upped their target price on AvalonBay Communities from $207.00 to $214.00 and gave the stock a sector perform rating in a research report on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AvalonBay Communities currently has a consensus rating of Hold and a consensus target price of $223.12.

AvalonBay Communities Price Performance

NYSE AVB opened at $230.41 on Monday. The stock has a market capitalization of $32.76 billion, a P/E ratio of 34.29, a P/E/G ratio of 3.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The business’s fifty day moving average is $215.90 and its two-hundred day moving average is $200.54. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $236.26.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same period last year, the business earned $2.66 earnings per share. On average, research analysts forecast that AvalonBay Communities will post 11.01 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of AvalonBay Communities

A number of large investors have recently bought and sold shares of AVB. &PARTNERS acquired a new position in shares of AvalonBay Communities during the second quarter valued at about $1,538,000. Lasalle Investment Management Securities LLC boosted its holdings in AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock worth $112,827,000 after acquiring an additional 18,320 shares in the last quarter. GSI Capital Advisors LLC boosted its holdings in AvalonBay Communities by 21.3% in the fourth quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock worth $9,506,000 after acquiring an additional 8,925 shares in the last quarter. Hsbc Holdings PLC grew its stake in AvalonBay Communities by 9.2% in the fourth quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock valued at $84,890,000 after acquiring an additional 38,235 shares during the period. Finally, Sheets Smith Wealth Management bought a new stake in shares of AvalonBay Communities during the first quarter valued at approximately $768,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.