AvalonBay Communities (NYSE:AVB) had its price target increased by BTIG Research to $235.00 in a research report sent to investors on Thursday, The Fly reports. They currently have a positive rating on the real estate investment trust’s stock.

Several other research firms also recently issued reports on AVB. Zelman & Associates upgraded AvalonBay Communities from a sell rating to a hold rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on AvalonBay Communities from $214.00 to $224.00 and gave the company a neutral rating in a research note on Tuesday, August 13th. Morgan Stanley boosted their price target on AvalonBay Communities from $194.00 to $217.00 and gave the company an equal weight rating in a research note on Thursday, June 27th. Argus restated a buy rating and issued a $215.00 price target on shares of AvalonBay Communities in a research note on Tuesday, April 30th. Finally, Citigroup boosted their price target on AvalonBay Communities from $205.00 to $210.00 and gave the company a neutral rating in a research note on Tuesday, August 6th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $210.31.

Shares of NYSE AVB opened at $205.84 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. AvalonBay Communities has a 12 month low of $167.01 and a 12 month high of $214.10. The stock has a 50 day moving average of $207.09 and a 200-day moving average of $201.90. The company has a market capitalization of $28.55 billion, a P/E ratio of 22.32, a P/E/G ratio of 3.76 and a beta of 0.53.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.31 by ($1.10). The firm had revenue of $577.26 million during the quarter, compared to the consensus estimate of $572.69 million. AvalonBay Communities had a net margin of 41.83% and a return on equity of 8.63%. During the same quarter last year, the firm earned $2.23 earnings per share. Analysts predict that AvalonBay Communities will post 9.34 EPS for the current fiscal year.

In other AvalonBay Communities news, EVP William M. Mclaughlin sold 2,500 shares of AvalonBay Communities stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $209.07, for a total value of $522,675.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin P. O’shea sold 250 shares of AvalonBay Communities stock in a transaction on Friday, May 24th. The shares were sold at an average price of $205.49, for a total value of $51,372.50. The disclosure for this sale can be found here. Insiders sold a total of 7,250 shares of company stock valued at $1,513,723 over the last ninety days. Insiders own 0.42% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVB. Parallel Advisors LLC raised its holdings in shares of AvalonBay Communities by 84.2% during the 1st quarter. Parallel Advisors LLC now owns 337 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 154 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of AvalonBay Communities during the 1st quarter worth $229,000. Campbell & CO Investment Adviser LLC raised its holdings in shares of AvalonBay Communities by 202.2% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 3,783 shares of the real estate investment trust’s stock worth $759,000 after buying an additional 2,531 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of AvalonBay Communities by 2.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 472,813 shares of the real estate investment trust’s stock worth $94,908,000 after buying an additional 12,221 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in shares of AvalonBay Communities by 2.0% during the 1st quarter. Westpac Banking Corp now owns 295,029 shares of the real estate investment trust’s stock worth $59,221,000 after buying an additional 5,715 shares in the last quarter. 91.96% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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