Wells Fargo & Company Lowers AvalonBay Communities (NYSE:AVB) Price Target to $193.00

AvalonBay Communities (NYSE:AVB) had its price objective decreased by stock analysts at Wells Fargo & Company from $213.00 to $193.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.28% from the company’s current price.

Several other equities analysts have also recently commented on the company. BNP Paribas Exane cut AvalonBay Communities from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Tuesday, October 14th. BNP Paribas downgraded shares of AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Scotiabank decreased their price target on AvalonBay Communities from $215.00 to $193.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Finally, Piper Sandler reduced their target price on AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $211.38.

AvalonBay Communities Trading Down 1.3%

AVB stock traded down $2.38 during trading on Monday, reaching $175.00. 83,056 shares of the stock traded hands, compared to its average volume of 826,826. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities has a 52-week low of $166.73 and a 52-week high of $239.29. The business’s 50 day moving average price is $188.17 and its 200-day moving average price is $196.42. The firm has a market capitalization of $24.92 billion, a PE ratio of 21.36, a P/E/G ratio of 2.54 and a beta of 0.84.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.75%. The firm had revenue of $766.80 million for the quarter, compared to analysts’ expectations of $766.22 million. During the same quarter in the prior year, the business earned $2.74 EPS. As a group, sell-side analysts forecast that AvalonBay Communities will post 11.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in AvalonBay Communities in the 3rd quarter worth about $30,000. Clearstead Trust LLC increased its position in AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 62 shares during the last quarter. AlphaQuest LLC bought a new position in shares of AvalonBay Communities in the 3rd quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of AvalonBay Communities in the second quarter worth $36,000. Finally, Sound Income Strategies LLC grew its position in shares of AvalonBay Communities by 76.4% in the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 81 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

About AvalonBay Communities

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.