AvalonBay Communities (NYSE:AVB) Price Target Cut to $226.00 by Analysts at Barclays

AvalonBay Communities (NYSE:AVB) had its target price lowered by stock analysts at Barclays from $230.00 to $226.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 3.07% from the company’s previous close.

Several other equities research analysts have also issued reports on AVB. Piper Sandler dropped their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley downgraded shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their target price for the company from $247.00 to $262.00 in a research note on Tuesday, December 17th. Scotiabank decreased their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, Royal Bank of Canada upped their target price on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.47.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $219.26 on Wednesday. AvalonBay Communities has a 52-week low of $172.85 and a 52-week high of $239.29. The firm has a fifty day moving average of $218.91 and a 200-day moving average of $222.76. The firm has a market capitalization of $31.19 billion, a P/E ratio of 28.89, a PEG ratio of 3.10 and a beta of 0.99. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. As a group, analysts predict that AvalonBay Communities will post 11.48 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AVB. Norges Bank acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth $1,499,050,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AvalonBay Communities by 678.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock worth $386,315,000 after purchasing an additional 1,494,872 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of AvalonBay Communities by 35.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock worth $1,133,328,000 after purchasing an additional 1,336,698 shares during the period. Northern Trust Corp raised its holdings in shares of AvalonBay Communities by 54.8% during the fourth quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock worth $581,324,000 after purchasing an additional 935,770 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of AvalonBay Communities by 49.9% during the fourth quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust’s stock worth $547,500,000 after purchasing an additional 828,009 shares during the period. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.