AvalonBay Communities (NYSE:AVB) PT Raised to $230.00 at Truist Financial

AvalonBay Communities (NYSE:AVB) had its target price raised by equities researchers at Truist Financial from $213.00 to $230.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 4.59% from the stock’s current price.

AVB has been the topic of several other research reports. Piper Sandler upped their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Scotiabank upped their price objective on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Monday. Royal Bank of Canada lifted their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Evercore ISI decreased their price target on AvalonBay Communities from $218.00 to $216.00 and set an “in-line” rating on the stock in a research report on Monday, August 12th. Finally, Argus lifted their price objective on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $214.06.

AvalonBay Communities Stock Down 0.8 %

Shares of AVB opened at $219.91 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $207.78 and a two-hundred day moving average price of $194.51. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 3.09 and a beta of 0.96. AvalonBay Communities has a 12 month low of $160.45 and a 12 month high of $222.97.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS 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 company had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. During the same quarter last year, the business earned $2.66 EPS. Equities analysts predict that AvalonBay Communities will post 10.97 EPS for the current fiscal year.

Insider Buying and Selling at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the business’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 transaction of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Institutional Trading of AvalonBay Communities

A number of large investors have recently made changes to their positions in the company. SYSTM Wealth Solutions LLC increased its stake in AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 49 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of AvalonBay Communities by 4.6% during the second quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after acquiring an additional 59 shares in the last quarter. Mechanics Bank Trust Department raised its holdings in shares of AvalonBay Communities by 0.3% during the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock worth $3,710,000 after acquiring an additional 60 shares during the period. SVB Wealth LLC lifted its position in AvalonBay Communities by 1.1% in the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after acquiring an additional 62 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in AvalonBay Communities by 2.9% in the 2nd quarter. Profund Advisors LLC now owns 2,202 shares of the real estate investment trust’s stock valued at $456,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

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.