Barclays Begins Coverage on AvalonBay Communities (NYSE:AVB)

Investment analysts at Barclays initiated coverage on shares of AvalonBay Communities (NYSE:AVB) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set an “equal weight” rating and a $243.00 price target on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 10.54% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Evercore ISI raised their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, BNP Paribas started coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $231.33.

AvalonBay Communities Trading Down 3.1 %

Shares of AVB stock opened at $219.83 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a fifty day simple moving average of $227.54 and a two-hundred day simple moving average of $218.12. The firm has a market capitalization of $31.27 billion, a PE ratio of 30.07, a PEG ratio of 3.30 and a beta of 0.98. AvalonBay Communities has a 52-week low of $169.37 and a 52-week high of $239.29.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). The business had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the prior year, the business posted $2.66 EPS. On average, analysts predict that AvalonBay Communities will post 11.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities during the 3rd quarter valued at $26,000. Brooklyn Investment Group purchased a new stake in shares of AvalonBay Communities during the third quarter valued at $39,000. Mather Group LLC. boosted its stake in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 56 shares during the period. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in AvalonBay Communities by 731.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 291 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 256 shares during the period. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

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.