AvalonBay Communities (NYSE:AVB) Given Overweight Rating at Piper Sandler

AvalonBay Communities (NYSE:AVBGet Free Report)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a note issued to investors on Tuesday, Benzinga reports. They currently have a $207.00 price objective on the real estate investment trust’s stock. Piper Sandler’s target price suggests a potential upside of 13.73% from the company’s current price.

A number of other analysts have also issued reports on AVB. The Goldman Sachs Group reiterated a “neutral” rating and issued a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, February 22nd. Wolfe Research lowered AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. KeyCorp restated a “sector weight” rating on shares of AvalonBay Communities in a report on Friday, January 5th. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $191.50 in a report on Monday, February 26th. Finally, Barclays upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $194.00 to $204.00 in a report on Tuesday, February 20th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $197.03.

Get Our Latest Analysis on AvalonBay Communities

AvalonBay Communities Trading Down 0.6 %

AVB opened at $182.01 on Tuesday. The stock has a market cap of $25.85 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 3.40 and a beta of 0.92. The stock’s 50 day moving average price is $178.87 and its 200-day moving average price is $177.30. AvalonBay Communities has a one year low of $156.54 and a one year high of $198.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44.

AvalonBay Communities (NYSE:AVBGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The firm had revenue of $704.71 million during the quarter, compared to analysts’ expectations of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same quarter in the previous year, the firm posted $2.59 EPS. On average, equities analysts forecast that AvalonBay Communities will post 10.81 EPS for the current year.

Insider Transactions at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of AvalonBay Communities

Several large investors have recently added to or reduced their stakes in the stock. Abel Hall LLC purchased a new stake in AvalonBay Communities in the 4th quarter valued at $202,000. Virtu Financial LLC purchased a new stake in AvalonBay Communities in the 4th quarter valued at $403,000. Teachers Retirement System of The State of Kentucky grew its holdings in AvalonBay Communities by 4.9% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 45,725 shares of the real estate investment trust’s stock valued at $8,561,000 after buying an additional 2,139 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in AvalonBay Communities by 51.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,367 shares of the real estate investment trust’s stock valued at $1,379,000 after buying an additional 2,500 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in AvalonBay Communities in the 4th quarter valued at $1,751,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

About AvalonBay Communities

(Get Free Report)

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.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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