AvalonBay Communities (NYSE:AVB) Price Target Increased to $207.00 by Analysts at Evercore ISI

AvalonBay Communities (NYSE:AVBGet Free Report) had its price target upped by stock analysts at Evercore ISI from $205.00 to $207.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would indicate a potential upside of 1.63% from the stock’s current price.

A number of other equities research analysts also recently weighed in on AVB. UBS Group raised their price target on AvalonBay Communities from $199.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Morgan Stanley increased their price objective on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Scotiabank increased their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Argus increased their price objective on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their price objective on AvalonBay Communities from $210.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $207.17.

Read Our Latest Stock Report on AVB

AvalonBay Communities Stock Down 0.1 %

AVB opened at $203.69 on Tuesday. AvalonBay Communities has a fifty-two week low of $160.45 and a fifty-two week high of $208.45. The business has a 50-day moving average of $198.87 and a 200-day moving average of $187.74. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $28.96 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The firm had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same period last year, the business earned $2.57 earnings per share. Equities research analysts forecast that AvalonBay Communities will post 10.92 EPS for the current fiscal year.

Institutional Trading of AvalonBay Communities

Several institutional investors have recently modified their holdings of AVB. Norges Bank acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $1,271,756,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of AvalonBay Communities by 70.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock worth $156,354,000 after purchasing an additional 346,214 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of AvalonBay Communities by 17.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,298,186 shares of the real estate investment trust’s stock worth $394,690,000 after purchasing an additional 341,332 shares in the last quarter. Heitman Real Estate Securities LLC grew its holdings in shares of AvalonBay Communities by 307.4% during the 4th quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock worth $65,734,000 after purchasing an additional 264,923 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of AvalonBay Communities by 14.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after buying an additional 249,400 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

(Get Free Report)

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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