AvalonBay Communities (NYSE:AVB) PT Raised to $255.00

AvalonBay Communities (NYSE:AVB) had its price objective lifted by Piper Sandler from $230.00 to $255.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price points to a potential upside of 18.61% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. UBS Group increased their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Mizuho raised their target price on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Morgan Stanley upped their price target on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Barclays raised their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company upped their target price on AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $209.24.

AvalonBay Communities Price Performance

Shares of AVB stock traded up $1.96 on Friday, hitting $214.99. 77,441 shares of the company’s stock were exchanged, compared to its average volume of 718,376. The company has a 50 day moving average of $202.07 and a 200 day moving average of $190.04. The stock has a market cap of $30.57 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 2.99 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. AvalonBay Communities has a 12 month low of $160.45 and a 12 month high of $218.79.

Institutional Trading of AvalonBay Communities

Hedge funds and other institutional investors have recently bought and sold shares of the business. Checchi Capital Advisers LLC lifted its stake in shares of AvalonBay Communities by 4.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 59 shares in the last quarter. Mechanics Bank Trust Department lifted its holdings in shares of AvalonBay Communities by 0.3% in the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after purchasing an additional 60 shares in the last quarter. SVB Wealth LLC boosted its position in shares of AvalonBay Communities by 1.1% during the first quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after buying an additional 62 shares during the last quarter. West Coast Financial LLC boosted its position in shares of AvalonBay Communities by 3.9% during the first quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 65 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in AvalonBay Communities by 1.1% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 6,361 shares of the real estate investment trust’s stock worth $1,180,000 after buying an additional 69 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

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.