Citigroup Issues Pessimistic Forecast for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price objective cut by research analysts at Citigroup from $212.00 to $198.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price indicates a potential upside of 12.43% from the company’s previous close.

AVB has been the subject of a number of other research reports. Truist Financial reduced their price objective on AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Morgan Stanley decreased their target price on shares of AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Deutsche Bank Aktiengesellschaft cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a research note on Tuesday, January 20th. Mizuho lowered their price target on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Finally, Royal Bank Of Canada decreased their price target on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and thirteen 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 target price of $200.91.

AvalonBay Communities Trading Up 0.5%

NYSE:AVB opened at $176.11 on Friday. AvalonBay Communities has a 12 month low of $166.73 and a 12 month high of $230.21. The firm’s 50 day moving average is $178.74 and its 200 day moving average is $183.88. The stock has a market capitalization of $24.94 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 3.10 and a beta of 0.76. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.79.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. The business had revenue of $767.86 million for the quarter, compared to analysts’ expectations of $766.38 million. AvalonBay Communities had a net margin of 34.57% and a return on equity of 8.78%. During the same quarter in the previous year, the firm posted $2.80 EPS. Sell-side analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current year.

Institutional Trading of AvalonBay Communities

A number of institutional investors and hedge funds have recently made changes to their positions in AVB. Empowered Funds LLC increased its stake in AvalonBay Communities by 5.7% during the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after buying an additional 148 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of AvalonBay Communities by 10.2% in the second quarter. Apollon Wealth Management LLC now owns 1,196 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 111 shares during the period. CWM LLC grew its stake in AvalonBay Communities by 133.4% during the 2nd quarter. CWM LLC now owns 4,323 shares of the real estate investment trust’s stock worth $880,000 after purchasing an additional 2,471 shares in the last quarter. MGO One Seven LLC increased its position in shares of AvalonBay Communities by 16.2% in the 2nd quarter. MGO One Seven LLC now owns 2,618 shares of the real estate investment trust’s stock valued at $533,000 after purchasing an additional 365 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of AvalonBay Communities by 105.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,676 shares of the real estate investment trust’s stock valued at $1,155,000 after acquiring an additional 2,919 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.