Analysts Set AvalonBay Communities, Inc. (NYSE:AVB) PT at $223.12

Shares of AvalonBay Communities, Inc. (NYSE:AVB) have been given an average recommendation of “Hold” by the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $223.12.

A number of research analysts have weighed in on AVB shares. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company upped their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. BNP Paribas initiated coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. Evercore ISI boosted their target price 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. Finally, Piper Sandler increased their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $230.06 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $217.02 and a 200 day moving average of $201.30. The firm has a market capitalization of $32.71 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 3.41 and a beta of 0.97. AvalonBay Communities has a 52 week low of $160.45 and a 52 week high of $236.26.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The company had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same period in the prior year, the business posted $2.66 earnings per share. As a group, research analysts expect that AvalonBay Communities will post 11.01 earnings per share for the current year.

Insider Activity

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On AvalonBay Communities

A number of hedge funds have recently made changes to their positions in AVB. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the 2nd quarter worth $32,000. Versant Capital Management Inc lifted its position in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON bought a new position in AvalonBay Communities during the first quarter valued at approximately $39,000. Pinnacle Bancorp Inc. grew its holdings in AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

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.