AvalonBay Communities (NYSE:AVB) Price Target Increased to $229.00 by Analysts at Evercore ISI

AvalonBay Communities (NYSE:AVB) had its target price hoisted by Evercore ISI from $225.00 to $229.00 in a research note published on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. UBS Group raised their price target on AvalonBay Communities from $210.00 to $228.00 and gave the stock a neutral rating in a report on Thursday, July 18th. Mizuho raised their target price on AvalonBay Communities from $185.00 to $194.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. upped their price target on AvalonBay Communities from $212.00 to $247.00 and gave the company a neutral rating in a research report on Monday. BNP Paribas started coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an outperform rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a sector perform rating in a research note on Friday, August 2nd. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities has an average rating of Hold and a consensus target price of $223.12.

AvalonBay Communities Trading Up 0.1 %

NYSE:AVB opened at $230.55 on Monday. AvalonBay Communities has a one year low of $160.45 and a one year high of $236.26. The company has a market cap of $32.78 billion, a PE ratio of 34.31, 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. The firm has a 50-day moving average of $216.45 and a 200-day moving average of $200.75.

AvalonBay Communities (NYSE:AVB) last posted 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 firm had revenue of $726.04 million during the quarter, compared to the consensus estimate 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 company earned $2.66 EPS. As a group, equities research analysts expect that AvalonBay Communities will post 11.01 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of AvalonBay Communities

Several institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in shares of AvalonBay Communities by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $380,000 after purchasing an additional 217 shares in the last quarter. Principal Securities Inc. bought a new position in AvalonBay Communities in the fourth quarter worth approximately $137,000. Jump Financial LLC raised its stake in AvalonBay Communities by 53.3% in the fourth quarter. Jump Financial LLC now owns 3,680 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 1,280 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in AvalonBay Communities by 30.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,883 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 1,386 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in AvalonBay Communities by 7.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 43,995 shares of the real estate investment trust’s stock valued at $8,237,000 after acquiring an additional 2,990 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

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.