AvalonBay Communities (NYSE:AVB) Price Target Raised to $206.00 at Barclays

AvalonBay Communities (NYSE:AVB) had its price objective boosted by research analysts at Barclays from $205.00 to $206.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 11.79% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Weiss Ratings lowered shares of AvalonBay Communities from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Piper Sandler upped their price target on shares of AvalonBay Communities from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Wells Fargo & Company cut their price target on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. UBS Group reduced their price objective on AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Finally, Wolfe Research raised AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $196.87.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.28 on Monday. AvalonBay Communities has a 52-week low of $160.10 and a 52-week high of $198.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average is $187.91 and its 200 day moving average is $180.14. The company has a market cap of $26.32 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.98 and a beta of 0.76.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.12). The firm had revenue of $777.77 million during the quarter, compared to analysts’ expectations of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period last year, the company earned $2.82 earnings per share. Sell-side analysts forecast that AvalonBay Communities will post 11.33 EPS for the current fiscal year.

Hedge Funds Weigh In On AvalonBay Communities

Several large investors have recently bought and sold shares of the business. Reflection Asset Management acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $25,000. Clearstead Trust LLC raised its position in AvalonBay Communities by 56.0% during the 1st quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 56 shares during the last quarter. Zions Bancorporation National Association UT lifted its position in 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 purchasing an additional 120 shares during the period. BOKF NA purchased a new position in shares of AvalonBay Communities during the 3rd quarter worth approximately $31,000. Finally, Elyxium Wealth LLC acquired a new position in AvalonBay Communities during the fourth quarter worth $32,000. Hedge funds and other institutional investors 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.