AvalonBay Communities (NYSE:AVB – Get Free Report) had its price target decreased by research analysts at UBS Group from $191.00 to $189.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would suggest a potential upside of 2.97% from the company’s current price.
Other research analysts have also issued reports about the stock. Royal Bank Of Canada raised their target price on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial lowered their target price on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $196.93.
AvalonBay Communities Price Performance
AvalonBay Communities (NYSE:AVB – Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. The business had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. During the same period last year, the business posted $2.83 earnings per share. Analysts forecast that AvalonBay Communities will post 11.31 earnings per share for the current fiscal year.
Institutional Trading of AvalonBay Communities
Several institutional investors and hedge funds have recently made changes to their positions in AVB. Reflection Asset Management bought a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $25,000. Clearstead Trust LLC raised its holdings in shares of AvalonBay Communities by 56.0% in the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. Zions Bancorporation National Association UT raised its holdings in AvalonBay Communities by 300.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA bought a new position in AvalonBay Communities in the third quarter worth about $31,000. Finally, Elyxium Wealth LLC bought a new position in AvalonBay Communities in the fourth quarter worth about $32,000. 92.61% of the stock is currently 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.
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