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

AvalonBay Communities (NYSE:AVB) had its price target reduced by equities researchers at Barclays from $217.00 to $202.00 in a report issued on Friday,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 12.81% from the stock’s current price.

Several other research firms also recently weighed in on AVB. Piper Sandler lowered their price objective on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, February 9th. UBS Group dropped their price target on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Colliers Securities reissued a “neutral” rating and set a $195.00 price objective (down from $200.00) on shares of AvalonBay Communities in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a research note on Friday, January 9th. Finally, Cantor Fitzgerald lifted their target price on AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $199.66.

AvalonBay Communities Stock Down 0.1%

AVB stock opened at $179.07 on Friday. The stock’s 50 day simple moving average is $178.35 and its 200 day simple moving average is $182.94. The company has a market cap of $25.08 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 3.12 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.67 and a current ratio of 0.77. AvalonBay Communities has a fifty-two week low of $166.73 and a fifty-two week high of $223.25.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, beating the consensus estimate of $2.84 by $0.01. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.The firm had revenue of $767.86 million during the quarter, compared to the consensus estimate of $766.38 million. During the same quarter in the previous year, the company posted $2.80 earnings per share. On average, research analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AvalonBay Communities

Several institutional investors have recently added to or reduced their stakes in AVB. Norges Bank bought a new stake in AvalonBay Communities in the fourth quarter worth about $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AvalonBay Communities by 15,065.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock worth $326,552,000 after purchasing an additional 1,789,195 shares during the period. Invesco Ltd. lifted its stake in AvalonBay Communities by 70.2% in the second quarter. Invesco Ltd. now owns 2,593,727 shares of the real estate investment trust’s stock valued at $527,823,000 after purchasing an additional 1,069,793 shares during the last quarter. Bank of America Corp DE grew its holdings in AvalonBay Communities by 76.0% during the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock valued at $455,077,000 after purchasing an additional 1,017,286 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of AvalonBay Communities by 22.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after buying an additional 944,129 shares during the period. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.