AvalonBay Communities (NYSE:AVB) Rating Increased to Overweight at JPMorgan Chase & Co.

AvalonBay Communities (NYSE:AVB) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm currently has a $262.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $247.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.15% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Truist Financial lifted their target price on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Evercore ISI increased their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their price objective on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $229.67.

AvalonBay Communities Stock Up 0.5 %

Shares of AVB stock opened at $227.53 on Tuesday. The stock’s fifty day moving average price is $227.34 and its 200 day moving average price is $217.87. AvalonBay Communities has a 1-year low of $169.37 and a 1-year high of $239.29. The company has a market cap of $32.36 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the previous year, the firm posted $2.66 EPS. On average, research analysts expect that AvalonBay Communities will post 11.03 earnings per share for the current fiscal year.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVB. Raymond James & Associates grew its holdings in shares of AvalonBay Communities by 0.7% during the second quarter. Raymond James & Associates now owns 158,780 shares of the real estate investment trust’s stock worth $32,850,000 after buying an additional 1,048 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in AvalonBay Communities during the second quarter worth about $284,000. &PARTNERS purchased a new stake in AvalonBay Communities during the 2nd quarter valued at about $1,538,000. Premier Path Wealth Partners LLC purchased a new stake in AvalonBay Communities during the 2nd quarter valued at about $226,000. Finally, Everhart Financial Group Inc. acquired a new stake in AvalonBay Communities in the 2nd quarter valued at about $295,000. Hedge funds and other 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.