JPMorgan Chase & Co. Boosts AvalonBay Communities (NYSE:AVB) Price Target to $247.00

AvalonBay Communities (NYSE:AVB) had its price target increased by JPMorgan Chase & Co. from $212.00 to $247.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the company. Zelman & Associates raised AvalonBay Communities to a hold rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a buy rating in a research note on Tuesday, September 10th. Mizuho boosted their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a neutral rating in a report on Thursday, May 30th. Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a sector perform rating in a research report on Friday, August 2nd. Finally, BNP Paribas started coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an outperform rating and a $250.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $223.12.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $232.85 on Monday. The stock has a market cap of $33.11 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 3.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities has a 12 month low of $160.45 and a 12 month high of $236.26. The stock’s 50 day moving average price is $214.83 and its 200 day moving average price is $199.96.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data 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 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 period in the prior year, the firm earned $2.66 EPS. Equities research analysts anticipate that AvalonBay Communities will post 11.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AvalonBay Communities news, 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

A number of large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in shares of AvalonBay Communities in the second quarter worth $3,701,000. Delphi Management Inc. MA lifted its position in AvalonBay Communities by 7.3% during the 2nd quarter. Delphi Management Inc. MA now owns 8,903 shares of the real estate investment trust’s stock worth $1,842,000 after acquiring an additional 605 shares during the last quarter. Creative Planning boosted its holdings in AvalonBay Communities by 24.4% during the second quarter. Creative Planning now owns 8,596 shares of the real estate investment trust’s stock valued at $1,778,000 after acquiring an additional 1,684 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of AvalonBay Communities by 240.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 94,884 shares of the real estate investment trust’s stock valued at $19,631,000 after purchasing an additional 67,012 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. increased its stake in shares of AvalonBay Communities by 13.0% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 37,490 shares of the real estate investment trust’s stock worth $7,756,000 after purchasing an additional 4,319 shares during the period. Institutional investors own 92.61% of the company’s stock.

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.