Wells Fargo & Company Has Lowered Expectations for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price target cut by Wells Fargo & Company from $213.00 to $193.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.77% from the company’s previous close.

AVB has been the subject of a number of other reports. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Cantor Fitzgerald began coverage on AvalonBay Communities in a report on Wednesday, October 1st. They set a “neutral” rating and a $205.00 price target on the stock. Barclays increased their price objective on AvalonBay Communities from $228.00 to $229.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Tuesday, October 14th. Finally, BNP Paribas lowered AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Five analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $209.54.

AvalonBay Communities Trading Up 1.3%

NYSE:AVB opened at $179.08 on Monday. The firm has a market capitalization of $25.50 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.54 and a beta of 0.84. The business has a 50 day simple moving average of $187.59 and a 200 day simple moving average of $196.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities has a 12-month low of $166.73 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.06). The firm had revenue of $766.80 million for the quarter, compared to analyst estimates of $766.22 million. AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. During the same period last year, the firm posted $2.74 EPS. Equities research analysts predict that AvalonBay Communities will post 11.48 EPS for the current year.

Institutional Investors Weigh In On AvalonBay Communities

Several hedge funds and other institutional investors have recently bought and sold shares of AVB. Perpetual Ltd boosted its position in shares of AvalonBay Communities by 0.5% during the 2nd quarter. Perpetual Ltd now owns 10,650 shares of the real estate investment trust’s stock valued at $2,167,000 after purchasing an additional 50 shares in the last quarter. CX Institutional lifted its stake in AvalonBay Communities by 6.3% during the second quarter. CX Institutional now owns 973 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 58 shares during the last quarter. Probity Advisors Inc. lifted its stake in AvalonBay Communities by 2.7% during the second quarter. Probity Advisors Inc. now owns 2,243 shares of the real estate investment trust’s stock valued at $456,000 after purchasing an additional 60 shares during the last quarter. PFG Investments LLC boosted its holdings in AvalonBay Communities by 4.4% during the third quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 61 shares in the last quarter. Finally, Clearstead Trust LLC grew its position in AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 62 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

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.