AvalonBay Communities (NYSE:AVB)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a research note issued to investors on Friday. They currently have a $185.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ target price suggests a potential upside of 9.66% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. BMO Capital Markets reaffirmed a “hold” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 27th. Evercore ISI raised AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price objective for the company in a research note on Monday, September 25th. KeyCorp reaffirmed a “hold” rating on shares of AvalonBay Communities in a research note on Sunday, September 24th. Finally, Robert W. Baird reissued a “buy” rating and set a $187.00 target price on shares of AvalonBay Communities in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $199.40.
Shares of AvalonBay Communities (NYSE:AVB) traded up $0.91 during trading on Friday, reaching $168.70. The company had a trading volume of 722,165 shares, compared to its average volume of 573,108. AvalonBay Communities has a 52-week low of $167.09 and a 52-week high of $199.52. The stock has a market capitalization of $23,190.00, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.10 and a current ratio of 0.10.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the Zacks’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business had revenue of $550.50 million during the quarter, compared to analysts’ expectations of $539.69 million. During the same quarter in the prior year, the firm earned $2.11 EPS. AvalonBay Communities’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities analysts predict that AvalonBay Communities will post 8.62 EPS for the current fiscal year.
In other news, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total transaction of $4,625,414.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sean J. Breslin sold 1,500 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The disclosure for this sale can be found here. Insiders sold a total of 30,660 shares of company stock valued at $5,628,669 over the last three months. Company insiders own 0.46% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AVB. Mutual of America Capital Management LLC grew its holdings in shares of AvalonBay Communities by 3.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 23,114 shares of the real estate investment trust’s stock worth $4,442,000 after acquiring an additional 784 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of AvalonBay Communities in the 2nd quarter worth approximately $1,224,000. FMR LLC grew its holdings in AvalonBay Communities by 22.2% during the 2nd quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after buying an additional 969,095 shares during the last quarter. California Public Employees Retirement System grew its holdings in AvalonBay Communities by 4.7% during the 2nd quarter. California Public Employees Retirement System now owns 304,096 shares of the real estate investment trust’s stock valued at $58,438,000 after buying an additional 13,700 shares during the last quarter. Finally, Cibc World Markets Corp grew its holdings in AvalonBay Communities by 35.7% during the 2nd quarter. Cibc World Markets Corp now owns 19,467 shares of the real estate investment trust’s stock valued at $3,741,000 after buying an additional 5,117 shares during the last quarter. Institutional investors and hedge funds own 94.86% of the company’s stock.
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About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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