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

AvalonBay Communities (NYSE:AVB) had its price objective cut by equities research analysts at Barclays from $217.00 to $202.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential upside of 13.52% from the company’s previous close.

A number of other brokerages have also weighed in on AVB. Piper Sandler decreased their target price on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Monday, February 9th. Wall Street Zen lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Finally, Colliers Securities reiterated a “neutral” rating and set a $195.00 target price (down from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Five investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $199.66.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $177.94 on Friday. The stock has a market cap of $24.93 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 3.12 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.67. AvalonBay Communities has a 1 year low of $166.73 and a 1 year high of $222.38. The firm has a 50-day moving average of $178.24 and a two-hundred day moving average of $182.81.

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

Institutional Investors Weigh In On AvalonBay Communities

Hedge funds have recently made changes to their positions in the stock. Reflection Asset Management purchased a new position in AvalonBay Communities in the fourth quarter valued at about $25,000. Zions Bancorporation National Association UT raised its holdings in AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of AvalonBay Communities during the third quarter valued at about $30,000. BOKF NA purchased a new stake in shares of AvalonBay Communities during the third quarter valued at about $31,000. Finally, Elyxium Wealth LLC bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $32,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

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.