Piper Sandler Has Lowered Expectations for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its target price dropped by investment analysts at Piper Sandler from $270.00 to $265.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 20.83% from the stock’s previous close.

Several other brokerages also recently weighed in on AVB. Scotiabank decreased their target price 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. Barclays cut their price objective on shares of AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and raised their target price for the company from $239.00 to $242.00 in a research note on Monday, January 6th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Royal Bank of Canada raised their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $235.73.

AvalonBay Communities Trading Down 0.4 %

NYSE:AVB opened at $219.32 on Tuesday. AvalonBay Communities has a 12 month low of $169.37 and a 12 month high of $239.29. The business’s 50-day moving average is $220.50 and its two-hundred day moving average is $222.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $31.20 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 3.10 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. Research analysts predict that AvalonBay Communities will post 11.53 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 the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AVB. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities during the third quarter valued at $26,000. Whipplewood Advisors LLC bought a new stake in AvalonBay Communities in the 4th quarter valued at about $36,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities during the 3rd quarter valued at about $39,000. Prospera Private Wealth LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of AvalonBay Communities in the fourth quarter valued at approximately $66,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.