AvalonBay Communities (NYSE:AVB) PT Raised to $225.00 at Evercore ISI

AvalonBay Communities (NYSE:AVB) had its target price hoisted by investment analysts at Evercore ISI from $223.00 to $225.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would suggest a potential downside of 1.85% from the company’s current price.

Several other research analysts have also issued reports on AVB. Piper Sandler raised their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Scotiabank lifted their price objective on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. UBS Group lifted their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Truist Financial lifted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus price target of $217.12.

AvalonBay Communities Trading Up 1.7 %

AVB opened at $229.24 on Monday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $32.59 billion, a PE ratio of 34.11, a PEG ratio of 3.03 and a beta of 0.97. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $230.04. The firm has a 50-day moving average price of $212.41 and a two-hundred day moving average price of $198.35.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). The business had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period last year, the business posted $2.66 EPS. As a group, equities analysts anticipate that AvalonBay Communities will post 11 earnings per share for the current fiscal year.

Insider Activity

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AvalonBay Communities

Institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities during the second quarter worth $32,000. Versant Capital Management Inc boosted its position in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON bought a new position in AvalonBay Communities during the first quarter worth $39,000. Pinnacle Bancorp Inc. boosted its position in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.