AvalonBay Communities, Inc. (NYSE:AVB) was upgraded by research analysts at UBS AG from a “neutral” rating to a “buy” rating in a research note issued on Thursday, November 9th, 99wallstreet.com reports. The brokerage currently has a $206.00 price target on the real estate investment trust’s stock, up from their prior price target of $190.00. UBS AG’s price objective points to a potential upside of 11.34% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada reissued a “buy” rating and issued a $203.00 price objective on shares of AvalonBay Communities in a research report on Sunday, July 16th. BidaskClub upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Evercore ISI upgraded AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective on the stock in a research report on Monday, September 25th. Finally, KeyCorp restated a “hold” rating on shares of AvalonBay Communities in a report on Sunday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $199.27.
AvalonBay Communities (NYSE AVB) opened at $185.02 on Thursday. The company has a market capitalization of $25,399.89, a P/E ratio of 21.67, a P/E/G ratio of 2.89 and a beta of 0.36. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. AvalonBay Communities has a 12 month low of $158.32 and a 12 month high of $199.52.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). The firm had revenue of $550.50 million for the quarter, compared to the consensus estimate of $539.69 million. AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 EPS. analysts predict that AvalonBay Communities will post 8.61 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of AvalonBay Communities by 0.7% in the second quarter. Vanguard Group Inc. now owns 22,015,933 shares of the real estate investment trust’s stock valued at $4,230,802,000 after purchasing an additional 158,436 shares during the period. BlackRock Inc. lifted its holdings in AvalonBay Communities by 1.1% during the second quarter. BlackRock Inc. now owns 14,559,192 shares of the real estate investment trust’s stock worth $2,797,838,000 after buying an additional 161,167 shares during the period. FMR LLC lifted its holdings in AvalonBay Communities by 22.2% during the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock worth $1,026,454,000 after buying an additional 969,095 shares during the period. Bank of New York Mellon Corp lifted its holdings in AvalonBay Communities by 9.5% during the third quarter. Bank of New York Mellon Corp now owns 3,184,930 shares of the real estate investment trust’s stock worth $568,255,000 after buying an additional 276,035 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of AvalonBay Communities by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock worth $523,140,000 after acquiring an additional 138,649 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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