AvalonBay Communities (NYSE:AVB) had its target price decreased by equities researchers at BTIG Research to $189.00 in a research report issued to clients and investors on Thursday, March 15th, The Fly reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective would indicate a potential upside of 13.86% from the company’s previous close.
Several other research firms have also recently issued reports on AVB. BMO Capital Markets reissued a “hold” rating and issued a $190.00 price objective on shares of AvalonBay Communities in a research report on Monday, November 27th. JPMorgan Chase cut shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target for the company. in a research report on Friday, December 15th. Robert W. Baird reaffirmed a “buy” rating and issued a $187.00 price target on shares of AvalonBay Communities in a research report on Tuesday, January 9th. SunTrust Banks set a $194.00 price objective on shares of AvalonBay Communities and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $185.00 price target on shares of AvalonBay Communities in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $191.00.
NYSE AVB traded down $0.23 on Thursday, reaching $166.00. The company had a trading volume of 600,822 shares, compared to its average volume of 755,937. AvalonBay Communities has a 12 month low of $152.65 and a 12 month high of $199.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market cap of $22,955.62, a P/E ratio of 19.26, a P/E/G ratio of 2.60 and a beta of 0.36.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $1.03. The firm had revenue of $555.29 million for the quarter, compared to the consensus estimate of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. analysts forecast that AvalonBay Communities will post 8.96 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in AvalonBay Communities by 1.3% during the fourth quarter. BlackRock Inc. now owns 15,114,729 shares of the real estate investment trust’s stock worth $2,696,619,000 after purchasing an additional 187,850 shares during the last quarter. Bank of New York Mellon Corp increased its position in AvalonBay Communities by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,493,069 shares of the real estate investment trust’s stock worth $623,200,000 after purchasing an additional 308,139 shares during the last quarter. PGGM Investments increased its position in AvalonBay Communities by 21.4% during the fourth quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock worth $355,571,000 after purchasing an additional 350,790 shares during the last quarter. Dimensional Fund Advisors LP increased its position in AvalonBay Communities by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,951,873 shares of the real estate investment trust’s stock worth $348,254,000 after purchasing an additional 38,163 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in AvalonBay Communities by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 1,751,561 shares of the real estate investment trust’s stock worth $311,957,000 after purchasing an additional 73,061 shares during the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.
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AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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