AvalonBay Communities, Inc. (NYSE:AVB) Given Average Rating of “Hold” by Brokerages

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have received a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $198.53.

A number of equities research analysts recently commented on the company. Truist Financial upped their target price on AvalonBay Communities from $190.00 to $211.00 in a research report on Wednesday, June 14th. 888 reissued a “maintains” rating on shares of AvalonBay Communities in a report on Friday, May 19th. BMO Capital Markets boosted their price target on AvalonBay Communities from $200.00 to $215.00 in a report on Tuesday, July 18th. Bank of America raised AvalonBay Communities from a “neutral” rating to a “buy” rating and boosted their price target for the company from $199.00 to $212.00 in a report on Monday, May 15th. Finally, StockNews.com started coverage on AvalonBay Communities in a report on Thursday, August 17th. They issued a “hold” rating for the company.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $179.28 on Monday. The business has a 50-day simple moving average of $186.76 and a two-hundred day simple moving average of $179.16. The company has a market cap of $25.46 billion, a PE ratio of 20.17, a P/E/G ratio of 2.96 and a beta of 0.93. AvalonBay Communities has a fifty-two week low of $153.07 and a fifty-two week high of $216.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.49 and a current ratio of 2.49.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.01). The firm had revenue of $690.86 million during the quarter, compared to analysts’ expectations of $675.67 million. AvalonBay Communities had a net margin of 46.32% and a return on equity of 11.01%. During the same quarter in the prior year, the company earned $2.43 EPS. As a group, equities analysts expect that AvalonBay Communities will post 10.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joanne M. Lockridge sold 3,331 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $186.25, for a total transaction of $620,398.75. Following the transaction, the executive vice president now owns 21,558 shares of the company’s stock, valued at approximately $4,015,177.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

Hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV raised its position in AvalonBay Communities by 290.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 116 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of AvalonBay Communities by 2,142.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 157 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. BOKF NA acquired a new stake in shares of AvalonBay Communities during the 1st quarter worth about $29,000. CVA Family Office LLC raised its position in shares of AvalonBay Communities by 106.7% during the 2nd quarter. CVA Family Office LLC now owns 155 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 80 shares in the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in AvalonBay Communities during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

AvalonBay Communities Company Profile

As of June 30, 2023, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.