AvalonBay Communities (NYSE:AVB) PT Raised to $207.00

AvalonBay Communities (NYSE:AVB) had its price target lifted by equities research analysts at Evercore ISI from $205.00 to $207.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential upside of 1.63% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. UBS Group increased their price objective on AvalonBay Communities from $199.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Scotiabank increased their price objective on AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Piper Sandler increased their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Argus raised their price target on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Barclays raised their price target on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $207.17.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $203.69 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a fifty day moving average price of $198.87 and a 200 day moving average price of $187.74. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $208.45. The company has a market cap of $28.96 billion, a PE ratio of 30.31, a P/E/G ratio of 2.96 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same quarter in the previous year, the company posted $2.57 EPS. Sell-side analysts forecast that AvalonBay Communities will post 10.92 EPS for the current year.

Hedge Funds Weigh In On AvalonBay Communities

Several hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its position in AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 169 shares in the last quarter. Byrne Asset Management LLC lifted its position in AvalonBay Communities by 270.0% during the 1st quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 135 shares in the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities during the 1st quarter worth approximately $39,000. Pinnacle Bancorp Inc. lifted its position in AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 75 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new position in AvalonBay Communities during the 4th quarter worth approximately $45,000. 92.61% of the stock is 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.