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

AvalonBay Communities (NYSE:AVB) had its price target reduced by investment analysts at Scotiabank from $193.00 to $190.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price suggests a potential upside of 7.55% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Mizuho lowered their price target on AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Morgan Stanley reduced their price objective on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Citigroup dropped their target price on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Barclays upped their target price on AvalonBay Communities from $216.00 to $217.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Finally, UBS Group reduced their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $200.59.

AvalonBay Communities Price Performance

AvalonBay Communities stock traded down $0.66 during midday trading on Wednesday, hitting $176.66. 140,138 shares of the company’s stock were exchanged, compared to its average volume of 1,182,318. AvalonBay Communities has a 52-week low of $166.73 and a 52-week high of $225.15. The stock has a 50-day moving average price of $178.53 and a two-hundred day moving average price of $183.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $24.75 billion, a P/E ratio of 21.57, a PEG ratio of 3.14 and a beta of 0.75.

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

Institutional Trading of AvalonBay Communities

Institutional investors and hedge funds have recently bought and sold shares of the stock. Reflection Asset Management purchased a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $25,000. Mather Group LLC. purchased a new position in shares of AvalonBay Communities in the 3rd quarter valued at approximately $30,000. Zions Bancorporation National Association UT boosted its position in shares of AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. Clearstead Trust LLC boosted its position in shares of AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 62 shares in the last quarter. Finally, BOKF NA purchased a new stake in AvalonBay Communities in the third quarter worth $31,000. 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.