UBS Group Lowers AvalonBay Communities (NYSE:AVB) Price Target to $191.00

AvalonBay Communities (NYSE:AVB) had its price target lowered by analysts at UBS Group from $192.00 to $191.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would indicate a potential upside of 3.57% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Royal Bank Of Canada cut their target price on AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Piper Sandler reduced their target price on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Truist Financial dropped their price target on AvalonBay Communities from $218.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Evercore ISI reissued an “in-line” rating and set a $214.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 3rd. Finally, Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Six analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $205.82.

AvalonBay Communities Price Performance

Shares of AVB traded up $4.92 during trading hours on Thursday, reaching $184.42. 295,972 shares of the company’s stock traded hands, compared to its average volume of 1,006,680. AvalonBay Communities has a 12 month low of $166.73 and a 12 month high of $230.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock has a market cap of $26.11 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 3.12 and a beta of 0.75. The firm’s 50 day simple moving average is $179.27 and its 200-day simple moving average is $188.66.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The business had revenue of $766.80 million for the quarter, compared to the consensus estimate of $766.22 million. During the same quarter in the previous year, the business earned $2.74 earnings per share. Equities analysts expect that AvalonBay Communities will post 11.48 EPS for the current year.

Institutional Trading of AvalonBay Communities

Several hedge funds and other institutional investors have recently made changes to their positions in AVB. Chesapeake Asset Management LLC raised its holdings in AvalonBay Communities by 9.1% during the fourth quarter. Chesapeake Asset Management LLC now owns 2,383 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 198 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of AvalonBay Communities by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock worth $80,449,000 after purchasing an additional 17,352 shares in the last quarter. GAMMA Investing LLC increased its holdings in AvalonBay Communities by 6.6% in the fourth quarter. GAMMA Investing LLC now owns 2,487 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 154 shares in the last quarter. Davis Selected Advisers increased its stake in AvalonBay Communities by 15.2% in the 3rd quarter. Davis Selected Advisers now owns 66,580 shares of the real estate investment trust’s stock valued at $12,861,000 after purchasing an additional 8,760 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in AvalonBay Communities by 90.4% during the third quarter. Swiss Life Asset Management Ltd now owns 20,558 shares of the real estate investment trust’s stock worth $3,971,000 after purchasing an additional 9,762 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

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.