AvalonBay Communities (NYSE:AVB) Upgraded at Mizuho

AvalonBay Communities (NYSE:AVB) was upgraded by investment analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday,Finviz reports. The firm currently has a $242.00 target price on the real estate investment trust’s stock, up from their previous target price of $239.00. Mizuho’s price target indicates a potential upside of 10.42% from the company’s previous close.

Several other analysts have also weighed in on AVB. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. Scotiabank dropped their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Evercore ISI increased their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.53.

AvalonBay Communities Stock Up 1.0 %

Shares of NYSE AVB opened at $219.17 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities has a 1 year low of $169.37 and a 1 year high of $239.29. The stock’s 50-day simple moving average is $226.61 and its 200-day simple moving average is $220.07. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 3.30 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the previous year, the business posted $2.66 EPS. As a group, equities analysts anticipate that AvalonBay Communities will post 11.03 earnings per share for the current fiscal year.

Insider Activity

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvalonBay Communities

Large investors have recently modified their holdings of the stock. Segment Wealth Management LLC grew its holdings in AvalonBay Communities by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 45 shares during the last quarter. SYSTM Wealth Solutions LLC grew its position in shares of AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 49 shares during the period. Patrick M Sweeney & Associates Inc. raised its stake in shares of AvalonBay Communities by 4.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 50 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after buying an additional 50 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its stake in AvalonBay Communities by 4.6% in the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 55 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.