AvalonBay Communities (NYSE:AVB) PT Raised to $212.00 at Argus

AvalonBay Communities (NYSE:AVB) had its price objective boosted by Argus from $188.00 to $212.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Argus currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on AVB. KeyCorp restated a sector weight rating on shares of AvalonBay Communities in a report on Friday, January 5th. Royal Bank of Canada raised their target price on AvalonBay Communities from $191.00 to $196.00 and gave the stock a sector perform rating in a research note on Monday, April 29th. Mizuho lowered their price target on shares of AvalonBay Communities from $188.00 to $185.00 and set a neutral rating on the stock in a research report on Wednesday, February 28th. Piper Sandler raised their price objective on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an overweight rating in a research report on Monday, April 29th. Finally, The Goldman Sachs Group reaffirmed a neutral rating and set a $191.00 target price on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $200.50.

AvalonBay Communities Stock Up 0.2 %

NYSE AVB opened at $192.84 on Tuesday. The business has a fifty day moving average price of $183.72 and a 200 day moving average price of $179.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $27.42 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.20 and a beta of 0.90. AvalonBay Communities has a one year low of $160.45 and a one year high of $198.65.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter last year, the company earned $2.57 earnings per share. Research analysts anticipate that AvalonBay Communities will post 10.85 EPS for the current fiscal year.

Insider Buying and Selling

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares in the company, valued at $4,054,985.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

A number of hedge funds have recently bought and sold shares of AVB. Byrne Asset Management LLC increased its stake in shares of AvalonBay Communities by 270.0% during the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 135 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 75 shares in the last quarter. Castleview Partners LLC lifted its position in shares of AvalonBay Communities by 1,542.9% during the 3rd quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 216 shares during the last quarter. Arlington Trust Co LLC acquired a new position in shares of AvalonBay Communities during the fourth quarter worth $45,000. Finally, Lindbrook Capital LLC grew its stake in shares of AvalonBay Communities by 53.7% during the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds 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.