AvalonBay Communities (NYSE:AVB – Get Rating ) Stock Target Advisors reported that investment analysts at Piper Sandler decreased their target price at Piper Sandler to $210.00 in a research note issued to investors on Monday. Piper Sandler’s price target suggests a potential upside of 7.01% from the stock’s current price.
AVB has been the subject of several other reports. StockNews.com began coverage on AvalonBay Communities in a report on Thursday, March 31st. He sets a “Hold” rating on the company. Barclays reduced their target price on AvalonBay Communities from $263.00 to $229.00 in a report on Tuesday, May 10th. Morgan Stanley decreased their target price on AvalonBay Communities from $247.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Credit Suisse Group initiated coverage on AvalonBay Communities in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $208.00 target price for the company. Finally, KeyCorp dropped their target price on AvalonBay Communities from $275.00 to $237.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. AvalonBay Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.61, according to MarketBeat.com.
AVB traded up $2.00 during midday trading on Monday, reaching $196.25. 36,879 shares of the company exchanged hands, compared to its average volume of 772,495. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.26. The company’s fifty day moving average price is $205.59 and its 200 day moving average price is $231.51. The company has a market cap of $27.44 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 3.31 and a beta of 0.92. AvalonBay Communities has a one year low of $183.35 and a one year high of $259.05.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in shares of AvalonBay Communities by 2.7% during the first quarter. Bank of America Corp DE now owns 639,950 shares of the real estate investment trust’s stock valued at $158,945,000 after purchasing an additional 16,808 shares during the last quarter. Advisory Services Network LLC boosted its holdings in AvalonBay Communities by 36.8% in the first quarter. Advisory Services Network LLC now owns 2,253 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 606 shares during the period. Neuberger Berman Group LLC boosted its holdings in AvalonBay Communities by 25.0% in the first quarter. Neuberger Berman Group LLC now owns 8,716 shares of the real estate investment trust’s stock valued at $2,164,000 after purchasing an additional 1,744 shares during the period. Toroso Investments LLC raised its holdings in AvalonBay Communities by 26.8% during the first quarter. Toroso Investments LLC now owns 9,352 shares of the real estate investment trust’s stock valued at $2,323,000 after purchasing an additional 1,978 shares during the period. Finally, Orion Portfolio Solutions LLC purchased a new stake in AvalonBay Communities in the first quarter valued at approximately $333,000. 90.98% of the shares are currently owned by institutional investors.
AvalonBay Communities Company Profile (get rating)
As of December 31, 2020, the Company owns or had 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 are under development and one community is under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and operating apartment communities in major 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, which include Southeast Florida and Denver, Colorado (the “Expansion Markets”).
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