Evercore ISI Analysts Give AvalonBay Communities (NYSE:AVB) a $231.00 Price Target

AvalonBay Communities (NYSE:AVB – Get Rating) has been given a $231.00 target price by Evercore ISI in a report issued on Monday, Stock Target Advisor reports. Evercore ISI’s price target indicates a potential upside of 20.95% from the company’s previous close.

Several other brokerages have also commented on AVB. Barclays lowered their price objective on AvalonBay Communities from $263.00 to $229.00 in a research report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft lowered their price target on AvalonBay Communities from $285.00 to $272.00 and set a “buy” rating for the company in a research report on Thursday, March 24th. Truist Financial lowered their price target on AvalonBay Communities from $266.00 to $263.00 and set a “hold” rating for the company in a research report on Monday, March 7th. Morgan Stanley lowered their price target on AvalonBay Communities from $247.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Finally, StockNews.com initiated coverage on AvalonBay Communities in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Buy” and an average price target of $257.63.

AvalonBay Communities stock traded up $4.60 on Monday, hitting $190.99. 46,145 shares of the stock traded hands, compared to its average volume of 768,029. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. The firm has a market cap of $26.70 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 3.23 and a beta of 0.94. The business’s fifty day simple moving average is $216.34 and its 200 day simple moving average is $234.98. AvalonBay Communities has a 1 year low of $183.35 and a 1 year high of $259.05.

Large investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd bought a new position in shares of AvalonBay Communities during the 4th quarter valued at approximately $11,596,000. State of Michigan Retirement System lifted its holdings in AvalonBay Communities by 3.7% in the 4th quarter. State of Michigan Retirement System now owns 37,798 shares of the real estate investment trust’s stock worth $9,547,000 after purchasing an additional 1,348 shares in the last quarter. Vident Investment Advisory LLC lifted its holdings in AvalonBay Communities by 2.5% in the 4th quarter. Vident Investment Advisory LLC now owns 28,367 shares of the real estate investment trust’s stock worth $7,166,000 after purchasing an additional 692 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of AvalonBay Communities by 12.2% during the 4th quarter. HighTower Advisors LLC now owns 10,795 shares of the real estate investment trust’s stock worth $2,737,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of AvalonBay Communities by 25.0% during the 4th quarter. Huntington National Bank now owns 150,479 shares of the real estate investment trust’s stock worth $38,010,000 after acquiring an additional 30,059 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

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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