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

AvalonBay Communities (NYSE:AVB) had its price objective decreased by Morgan Stanley from $222.50 to $208.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective would suggest a potential upside of 22.16% from the stock’s current price.

Several other equities analysts also recently commented on the company. Piper Sandler dropped their target price on AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Monday, February 9th. Wall Street Zen downgraded shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Truist Financial reduced their price objective on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Barclays lowered their target price on shares of AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, March 6th. Finally, Cantor Fitzgerald boosted their target price on shares of AvalonBay Communities from $179.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Five analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $198.75.

AvalonBay Communities Price Performance

Shares of NYSE AVB traded up $1.31 during midday trading on Monday, reaching $170.27. 313,093 shares of the company were exchanged, compared to its average volume of 1,138,448. The stock’s 50-day moving average price is $177.26 and its 200-day moving average price is $182.05. The stock has a market cap of $23.85 billion, a P/E ratio of 20.78, a PEG ratio of 2.96 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. AvalonBay Communities has a one year low of $166.73 and a one year high of $217.32.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.01. The company had revenue of $767.86 million during the quarter, compared to analysts’ expectations of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same period in the prior year, the company earned $2.80 EPS. On average, sell-side analysts anticipate that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of AvalonBay Communities by 1.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust’s stock valued at $649,000 after buying an additional 60 shares during the last quarter. PFG Investments LLC raised its holdings in shares of AvalonBay Communities by 4.4% in the 3rd quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust’s stock worth $281,000 after acquiring an additional 61 shares during the last quarter. Keybank National Association OH lifted its position in AvalonBay Communities by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 62 shares in the last quarter. Global Retirement Partners LLC boosted its stake in AvalonBay Communities by 13.3% during the 3rd quarter. Global Retirement Partners LLC now owns 564 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 66 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in AvalonBay Communities by 0.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,126 shares of the real estate investment trust’s stock worth $1,654,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

About AvalonBay Communities

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.