AvalonBay Communities (NYSE:AVB) Upgraded to “Buy” at UBS

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.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The company had revenue of $550.50 million during the quarter, compared to analyst estimates of $539.69 million. During the same quarter last year, the business posted $2.11 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. equities research analysts forecast that AvalonBay Communities will post 8.62 earnings per share for the current fiscal year.

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.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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