AvalonBay Communities (NYSE:AVB) was upgraded by investment analysts at UBS from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, November 9th, 99wallstreet.com reports. The firm presently has a $206.00 price target on the real estate investment trust’s stock, up from their previous price target of $190.00. UBS’s price objective suggests a potential upside of 13.64% from the company’s previous close.
Several other analysts also recently weighed in on AVB. BidaskClub downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird restated a “buy” rating and issued a $202.00 price target on shares of AvalonBay Communities in a research note on Friday, September 1st. Mizuho restated a “buy” rating and issued a $220.00 price target on shares of AvalonBay Communities in a research note on Monday, November 6th. Deutsche Bank boosted their price target on shares of AvalonBay Communities from $193.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $209.00 price target on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $199.20.
Shares of AvalonBay Communities (AVB) traded down $1.57 during midday trading on Thursday, hitting $181.27. 721,822 shares of the stock were exchanged, compared to its average volume of 678,194. The firm has a market cap of $25,495.17, a P/E ratio of 21.75, a P/E/G ratio of 2.90 and a beta of 0.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. AvalonBay Communities has a fifty-two week low of $161.59 and a fifty-two week high of $199.52.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning lifted its position in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 2 shares during the last quarter. Amica Retiree Medical Trust purchased a new stake in AvalonBay Communities in the third quarter valued at $132,000. WFG Advisors LP lifted its position in AvalonBay Communities by 24.9% in the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 167 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in AvalonBay Communities in the second quarter valued at $201,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in AvalonBay Communities in the second quarter valued at $206,000. 94.81% of the stock is owned by hedge funds and other institutional investors.
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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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