AvalonBay Communities (NYSE:AVB) Upgraded by Jefferies Financial Group to “Hold” Rating

AvalonBay Communities (NYSE:AVB) was upgraded by Jefferies Financial Group to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Cantor Fitzgerald upped their target price on shares of AvalonBay Communities from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Scotiabank reduced their target price on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a report on Thursday, May 14th. UBS Group decreased their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Finally, Wells Fargo & Company dropped their price target on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $195.13.

AvalonBay Communities Trading Up 2.1%

NYSE:AVB opened at $190.13 on Friday. The company has a market cap of $26.45 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 3.24 and a beta of 0.78. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The company has a 50 day simple moving average of $182.76 and a two-hundred day simple moving average of $177.81. AvalonBay Communities has a 12 month low of $160.10 and a 12 month high of $206.62.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The firm had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same period in the previous year, the company earned $2.83 earnings per share. Research analysts forecast that AvalonBay Communities will post 11.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pensionfund PDN bought a new stake in shares of AvalonBay Communities in the 4th quarter worth about $3,648,000. Nordea Investment Management AB lifted its holdings in shares of AvalonBay Communities by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock valued at $80,449,000 after acquiring an additional 17,352 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in AvalonBay Communities in the third quarter worth about $11,058,000. First Trust Advisors LP grew its position in AvalonBay Communities by 6.4% in the third quarter. First Trust Advisors LP now owns 223,074 shares of the real estate investment trust’s stock worth $43,091,000 after acquiring an additional 13,356 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $26,237,000. 92.61% of the stock is owned by hedge funds and other 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.