AvalonBay Communities (NYSE:AVB) Price Target Raised to $230.00

AvalonBay Communities (NYSE:AVB) had its price objective hoisted by Piper Sandler from $207.00 to $230.00 in a research report released on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the real estate investment trust’s stock.

Several other research firms have also recently commented on AVB. Royal Bank of Canada reissued a sector perform rating and set a $185.00 target price on shares of AvalonBay Communities in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AvalonBay Communities in a research note on Tuesday, January 30th. They set a buy rating and a $206.00 target price on the stock. Truist Financial lowered their target price on shares of AvalonBay Communities from $201.00 to $197.00 and set a hold rating on the stock in a research note on Tuesday, April 9th. Mizuho lowered their price objective on shares of AvalonBay Communities from $188.00 to $185.00 and set a neutral rating on the stock in a research note on Wednesday, February 28th. Finally, Morgan Stanley raised shares of AvalonBay Communities from an equal weight rating to an overweight rating and lifted their price objective for the stock from $175.00 to $191.50 in a research note on Monday, February 26th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $200.50.

AvalonBay Communities Stock Up 2.4 %

AVB stock opened at $192.45 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a fifty-two week low of $160.45 and a fifty-two week high of $198.65. The firm’s 50-day simple moving average is $183.72 and its 200 day simple moving average is $179.03. The stock has a market cap of $27.36 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 3.23 and a beta of 0.90.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). The company had revenue of $712.86 million for the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same period in the previous year, the business posted $2.57 EPS. As a group, sell-side analysts predict that AvalonBay Communities will post 10.85 EPS for the current year.

Insiders Place Their Bets

In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of AvalonBay Communities

Institutional investors have recently made changes to their positions in the stock. Byrne Asset Management LLC boosted its holdings in shares of AvalonBay Communities by 270.0% during the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 135 shares during the period. Castleview Partners LLC raised its position in AvalonBay Communities by 1,542.9% during the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 216 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. Arlington Trust Co LLC bought a new position in AvalonBay Communities during the fourth quarter valued at approximately $45,000. Finally, Lindbrook Capital LLC raised its position in AvalonBay Communities by 53.7% during the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 109 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.