AvalonBay Communities (NYSE:AVB) Price Target Cut to $229.00

AvalonBay Communities (NYSE:AVBGet Rating) had its price target lowered by investment analysts at Barclays from $263.00 to $229.00 in a research note issued to investors on Tuesday, The Fly reports. Barclays‘s price target points to a potential upside of 12.41% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Piper Sandler decreased their price target on AvalonBay Communities from $265.00 to $240.00 in a research note on Wednesday, May 4th. Morgan Stanley boosted their price target on AvalonBay Communities from $265.00 to $271.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. Deutsche Bank Aktiengesellschaft decreased their price target on AvalonBay Communities from $285.00 to $272.00 and set a “buy” rating for the company in a research note on Thursday, March 24th. Truist Financial decreased their price target on AvalonBay Communities from $266.00 to $263.00 and set a “hold” rating for the company in a research note on Monday, March 7th. Finally, KeyCorp upped their price objective on AvalonBay Communities from $255.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, January 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $262.47.

AVB stock opened at $203.72 on Tuesday. AvalonBay Communities has a 1-year low of $191.69 and a 1-year high of $259.05. The business has a fifty day moving average price of $242.52 and a 200-day moving average price of $242.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.26 and a quick ratio of 1.57. The stock has a market capitalization of $28.48 billion, a P/E ratio of 25.34, a P/E/G ratio of 3.95 and a beta of 0.93.

A number of large investors have recently added to or reduced their stakes in AVB. Raymond James Financial Services Advisors Inc. grew its holdings in AvalonBay Communities by 133.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,336 shares of the real estate investment trust’s stock valued at $1,183,000 after purchasing an additional 3,052 shares during the period. Advisor Group Holdings Inc. grew its holdings in AvalonBay Communities by 9.0% during the third quarter. Advisor Group Holdings Inc. now owns 9,813 shares of the real estate investment trust’s stock valued at $2,178,000 after purchasing an additional 811 shares during the period. Truist Financial Corp boosted its stake in shares of AvalonBay Communities by 79.5% in the third quarter. Truist Financial Corp now owns 5,423 shares of the real estate investment trust’s stock worth $1,202,000 after acquiring an additional 2,402 shares during the period. Advisory Services Network LLC boosted its stake in shares of AvalonBay Communities by 3.4% in the third quarter. Advisory Services Network LLC now owns 1,484 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 49 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of AvalonBay Communities by 28.0% in the third quarter. Mackenzie Financial Corp now owns 13,068 shares of the real estate investment trust’s stock worth $2,896,000 after acquiring an additional 2,861 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile (Get Rating)

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").

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