AvalonBay Communities (NYSE:AVB – Get Rating) had its target price lowered by research analysts at Truist Financial from $228.00 to $186.00 in a report released on Thursday, The Fly reports. Truist Financial’s target price suggests a potential upside of 6.35% from the company’s previous close.
Several other brokerages have also recently weighed in on AVB. TheStreet cut shares of AvalonBay Communities from a “b-” rating to a “c+” rating in a research note on Friday, October 14th. Jefferies Financial Group reduced their target price on shares of AvalonBay Communities from $196.00 to $190.00 and set a “hold” rating for the company in a report on Wednesday, October 19th. StockNews.com began coverage on shares of AvalonBay Communities in a report on Wednesday, October 12th. They set a “hold” rating on the stock. The Goldman Sachs Group reduced their price objective on shares of AvalonBay Communities from $248.00 to $213.00 and set a “buy” rating for the company in a research note on Tuesday, October 18th. Finally, Mizuho cut shares of AvalonBay Communities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $220.00 to $170.00 in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $223.26.
AvalonBay Communities Trading Up 2.4 %
AvalonBay Communities stock opened at $174.90 on Thursday. AvalonBay Communities has a 52-week low of $158.35 and a 52-week high of $259.05. The company has a market cap of $24.47 billion, a P/E ratio of 19.90, a P/E/G ratio of 3.26 and a beta of 0.88. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $174.03 and a two-hundred day simple moving average of $192.25.
Institutional Trading of AvalonBay Communities
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. raised its stake in shares of AvalonBay Communities by 1.1% in the third quarter. Desjardins Global Asset Management Inc. now owns 5,409 shares of the real estate investment trust’s stock valued at $995,000 after acquiring an additional 59 shares during the period. Allworth Financial LP raised its holdings in shares of AvalonBay Communities by 1.8% in the third quarter. Allworth Financial LP now owns 3,351 shares of the real estate investment trust’s stock worth $617,000 after buying an additional 60 shares during the period. MML Investors Services LLC lifted its stake in shares of AvalonBay Communities by 4.3% during the 3rd quarter. MML Investors Services LLC now owns 1,448 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 60 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in AvalonBay Communities by 0.3% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 21,451 shares of the real estate investment trust’s stock valued at $4,167,000 after acquiring an additional 65 shares during the period. Finally, Alps Advisors Inc. grew its position in AvalonBay Communities by 2.5% in the 2nd quarter. Alps Advisors Inc. now owns 2,708 shares of the real estate investment trust’s stock valued at $526,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.
About AvalonBay Communities
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company’s expansion markets consisting of Southeast Florida and Denver, Colorado (the “Expansion Markets”).
Further Reading
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