Piper Sandler Boosts AvalonBay Communities (NYSE:AVB) Price Target to $210.00

AvalonBay Communities (NYSE:AVB) had its price target increased by equities researchers at Piper Sandler from $195.00 to $210.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s target price suggests a potential upside of 10.14% from the company’s current price.

Several other research analysts also recently issued reports on AVB. Scotiabank upped their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, July 9th. Jefferies Financial Group raised AvalonBay Communities to a “hold” rating in a research note on Friday, June 26th. Cantor Fitzgerald boosted their target price on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Finally, Wells Fargo & Company cut their price target on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $196.80.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock traded down $1.18 during mid-day trading on Tuesday, reaching $190.66. 182,649 shares of the stock were exchanged, compared to its average volume of 1,097,281. AvalonBay Communities has a fifty-two week low of $160.10 and a fifty-two week high of $204.68. The company has a market cap of $27.09 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 3.35 and a beta of 0.77. The firm has a 50-day simple moving average of $187.02 and a 200 day simple moving average of $179.16. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The firm had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. During the same period in the previous year, the business posted $2.83 EPS. On average, sell-side analysts predict that AvalonBay Communities will post 11.28 EPS for the current fiscal year.

Institutional Investors Weigh In On AvalonBay Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Reflection Asset Management acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at about $25,000. Clearstead Trust LLC raised its position in AvalonBay Communities by 56.0% in the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Zions Bancorporation National Association UT lifted its stake in AvalonBay Communities by 300.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. BOKF NA bought a new stake in AvalonBay Communities in the 3rd quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC acquired a new position in AvalonBay Communities during the 4th quarter worth approximately $32,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

About AvalonBay Communities

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.