Barclays Boosts AvalonBay Communities (NYSE:AVB) Price Target to $218.00

AvalonBay Communities (NYSE:AVB) had its target price increased by investment analysts at Barclays from $204.00 to $218.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price would suggest a potential upside of 13.68% from the company’s previous close.

A number of other equities analysts have also weighed in on AVB. Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $191.50 in a research report on Monday, February 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AvalonBay Communities in a report on Thursday, February 22nd. Piper Sandler increased their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada lifted their price objective on AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $199.78.

AvalonBay Communities Stock Performance

Shares of AVB traded up $0.31 during mid-day trading on Monday, hitting $191.76. 238,280 shares of the company’s stock were exchanged, compared to its average volume of 809,325. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities has a fifty-two week low of $160.45 and a fifty-two week high of $198.65. The business’s 50 day moving average is $182.66 and its two-hundred day moving average is $178.68. The firm has a market capitalization of $27.26 billion, a P/E ratio of 28.61, a P/E/G ratio of 3.23 and a beta of 0.92.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The company had revenue of $704.71 million for the quarter, compared to analyst estimates of $701.67 million. During the same period in the previous year, the business posted $2.59 earnings per share. On average, equities analysts expect that AvalonBay Communities will post 10.84 earnings per share for the current year.

Insider Buying and Selling at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the sale, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s 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 in the company, valued at $4,054,985.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the sale, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Investors Weigh In On AvalonBay Communities

Several hedge funds have recently modified their holdings of AVB. Norges Bank acquired a new position in AvalonBay Communities during the fourth quarter worth approximately $1,271,756,000. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of AvalonBay Communities by 70.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock worth $156,354,000 after buying an additional 346,214 shares during the last quarter. Wellington Management Group LLP raised its position in shares of AvalonBay Communities by 17.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,298,186 shares of the real estate investment trust’s stock worth $394,690,000 after buying an additional 341,332 shares during the period. Heitman Real Estate Securities LLC boosted its holdings in AvalonBay Communities by 307.4% in the fourth quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock valued at $65,734,000 after acquiring an additional 264,923 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in AvalonBay Communities by 2,140.1% during the fourth quarter. Nordea Investment Management AB now owns 213,727 shares of the real estate investment trust’s stock valued at $40,347,000 after acquiring an additional 204,186 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

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.