BMO Capital Markets Downgrades AvalonBay Communities (NYSE:AVB) to Market Perform

AvalonBay Communities (NYSE:AVB) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $220.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective points to a potential upside of 14.77% from the company’s current price.

Several other research firms also recently issued reports on AVB. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $239.00 to $242.00 in a research report on Monday, January 6th. Barclays dropped their price objective on AvalonBay Communities from $230.00 to $226.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Truist Financial lifted their target price on AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a report on Monday, March 10th. Piper Sandler lowered their price target on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Zelman & Associates raised shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $237.40.

AvalonBay Communities Trading Down 6.9 %

Shares of AVB stock opened at $191.69 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $27.27 billion, a P/E ratio of 25.26, a PEG ratio of 3.11 and a beta of 0.86. The company has a 50 day moving average of $216.75 and a 200-day moving average of $221.63. AvalonBay Communities has a 12-month low of $177.40 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Sell-side analysts anticipate that AvalonBay Communities will post 11.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ancora Advisors LLC boosted its stake in shares of AvalonBay Communities by 1,666.7% in the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 150 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in AvalonBay Communities during the fourth quarter valued at about $36,000. Crowley Wealth Management Inc. bought a new position in shares of AvalonBay Communities during the fourth quarter valued at about $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AvalonBay Communities in the fourth quarter worth about $53,000. Finally, Continuum Advisory LLC lifted its stake in shares of AvalonBay Communities by 12,200.0% in the 4th quarter. Continuum Advisory LLC now owns 246 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 244 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.