AvalonBay Communities (NYSE:AVB) Cut to Sell at Wall Street Zen

AvalonBay Communities (NYSE:AVB) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Several other research analysts have also commented on AVB. Piper Sandler cut their price objective on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Scotiabank dropped their target price on AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating on the stock in a report on Friday, June 13th. Royal Bank Of Canada reduced their price target on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. Truist Financial increased their price objective on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $235.86.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $204.36 on Friday. AvalonBay Communities has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a 50-day moving average price of $205.71 and a 200 day moving average price of $211.70. The company has a market cap of $29.09 billion, a P/E ratio of 25.45, a PEG ratio of 2.78 and a beta of 0.86. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The company had revenue of $693.43 million during the quarter, compared to the consensus estimate of $744.61 million. During the same period last year, the firm earned $2.70 EPS. Research analysts predict that AvalonBay Communities will post 11.48 earnings per share for the current year.

Insider Activity

In related news, CFO Kevin P. O’shea sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the completion of the sale, the chief financial officer now owns 22,782 shares of the company’s stock, valued at approximately $4,728,859.74. The trade was a 20.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Edward M. Schulman sold 5,945 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president now directly owns 17,617 shares in the company, valued at approximately $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors and hedge funds have recently modified their holdings of the business. Baker Tilly Wealth Management LLC grew its holdings in AvalonBay Communities by 1.8% during the first quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 58 shares during the last quarter. Golden State Equity Partners grew its stake in AvalonBay Communities by 3.7% in the 1st quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 60 shares during the last quarter. Signaturefd LLC raised its holdings in AvalonBay Communities by 4.0% in the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 62 shares during the period. Private Advisor Group LLC lifted its position in AvalonBay Communities by 2.6% during the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 63 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in AvalonBay Communities by 1.0% during the first quarter. Benjamin Edwards Inc. now owns 6,417 shares of the real estate investment trust’s stock valued at $1,377,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

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.