AvalonBay Communities (NYSE:AVB) Given Equal Weight Rating at Morgan Stanley

AvalonBay Communities (NYSE:AVB)‘s stock had its “equal weight” rating reissued by stock analysts at Morgan Stanley in a research note issued on Thursday, MarketBeat.com reports. They currently have a $203.00 price target on the real estate investment trust’s stock, down from their prior price target of $208.00. Morgan Stanley’s price objective indicates a potential upside of 24.09% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Barclays decreased their target price on AvalonBay Communities from $217.00 to $202.00 and set an “overweight” rating on the stock in a research report on Friday, March 6th. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Friday, January 9th. Royal Bank Of Canada cut their target price on AvalonBay Communities from $191.00 to $187.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Truist Financial decreased their price target 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. Finally, Scotiabank dropped their price objective on shares of AvalonBay Communities from $193.00 to $190.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $198.44.

AvalonBay Communities Trading Up 0.0%

Shares of AvalonBay Communities stock opened at $163.59 on Thursday. AvalonBay Communities has a 1 year low of $160.72 and a 1 year high of $217.32. The company’s fifty day simple moving average is $174.82 and its 200-day simple moving average is $180.55. The company has a market cap of $22.92 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.86 and a beta of 0.75. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.79.

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

Institutional Investors Weigh In On AvalonBay Communities

Large investors have recently bought and sold shares of the business. Reflection Asset Management acquired a new position in AvalonBay Communities in the fourth quarter worth $25,000. Mather Group LLC. bought a new stake in shares of AvalonBay Communities during the third quarter worth $30,000. Zions Bancorporation National Association UT increased its stake in shares of AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. BOKF NA bought a new position in shares of AvalonBay Communities in the third quarter valued at about $31,000. Finally, AlphaQuest LLC acquired a new position in AvalonBay Communities during the 3rd quarter worth about $33,000. 92.61% of the stock is currently owned by institutional investors.

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.