AvalonBay Communities, Inc. (NYSE:AVB) Receives Consensus Rating of “Hold” from Brokerages

AvalonBay Communities, Inc. (NYSE:AVB) has received an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $211.12.

Several equities analysts have issued reports on the company. Truist Financial boosted their price target on AvalonBay Communities from $207.00 to $213.00 and gave the company a “hold” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Morgan Stanley upped their price target on AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Barclays raised their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Argus upped their target price on AvalonBay Communities from $188.00 to $212.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th.

Insider Activity at AvalonBay Communities

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVB. Norges Bank purchased a new stake in AvalonBay Communities during the fourth quarter valued at about $1,271,756,000. Principal Financial Group Inc. raised its position in shares of AvalonBay Communities by 2.4% in the first quarter. Principal Financial Group Inc. now owns 4,759,095 shares of the real estate investment trust’s stock valued at $883,098,000 after purchasing an additional 109,585 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of AvalonBay Communities by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after buying an additional 13,631 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after buying an additional 249,400 shares during the period. Finally, Clearbridge Investments LLC grew its stake in AvalonBay Communities by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock valued at $342,824,000 after buying an additional 8,809 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 1.7 %

AVB opened at $221.73 on Monday. AvalonBay Communities has a twelve month low of $160.45 and a twelve month high of $221.92. The company has a fifty day moving average of $207.42 and a 200-day moving average of $194.19. The stock has a market cap of $31.53 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The business had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the business posted $2.66 earnings per share. On average, sell-side analysts predict that AvalonBay Communities will post 10.97 EPS for the current year.

About AvalonBay Communities

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.