Barclays Reiterates “Equal Weight” Rating for AvalonBay Communities (NYSE:AVB)

AvalonBay Communities (NYSE:AVB)‘s stock had its “equal weight” rating reiterated by analysts at Barclays in a research report issued on Tuesday,Benzinga reports. They presently have a $205.00 price target on the real estate investment trust’s stock, up from their prior price target of $203.00. Barclays‘s target price would indicate a potential upside of 5.32% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Jefferies Financial Group upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Friday, June 26th. Wall Street Zen upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler boosted their target price on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Morgan Stanley restated an “equal weight” rating and set a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a report on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities currently has an average rating of “Hold” and a consensus target price of $195.80.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $194.65 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $27.65 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 3.34 and a beta of 0.77. The business’s 50-day simple moving average is $186.36 and its 200-day simple moving average is $178.85. AvalonBay Communities has a 52 week low of $160.10 and a 52 week high of $205.00.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.47). The company had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter last year, the firm posted $2.83 earnings per share. As a group, equities research analysts expect that AvalonBay Communities will post 11.28 earnings per share for the current fiscal year.

Institutional Trading of AvalonBay Communities

A number of hedge funds have recently bought and sold shares of the stock. Auto Owners Insurance Co grew its position in AvalonBay Communities by 18,031.0% in the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock worth $213,677,000 after purchasing an additional 11,720,150 shares during the last quarter. Norges Bank acquired a new position in shares of AvalonBay Communities during the fourth quarter valued at about $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AvalonBay Communities by 15,065.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock valued at $326,552,000 after buying an additional 1,789,195 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of AvalonBay Communities by 76.0% in the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock valued at $455,077,000 after buying an additional 1,017,286 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of AvalonBay Communities by 22.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock valued at $935,551,000 after buying an additional 944,129 shares during the period. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.