AvalonBay Communities (NYSE:AVB – Get Free Report) had its target price lowered by equities researchers at Scotiabank from $190.00 to $187.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target indicates a potential upside of 0.29% from the stock’s current price.
AVB has been the topic of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. Morgan Stanley restated an “equal weight” rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Piper Sandler decreased their price target on shares of AvalonBay Communities from $190.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, February 9th. Cantor Fitzgerald upped their price objective on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $197.07.
Check Out Our Latest Analysis on AvalonBay Communities
AvalonBay Communities Trading Down 0.3%
AvalonBay Communities (NYSE:AVB – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The business had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. During the same period last year, the firm posted $2.83 EPS. Equities analysts predict that AvalonBay Communities will post 11.31 EPS for the current fiscal year.
Institutional Trading of AvalonBay Communities
Several hedge funds and other institutional investors have recently made changes to their positions in AVB. Metis Global Partners LLC lifted its stake in AvalonBay Communities by 21.0% in the third quarter. Metis Global Partners LLC now owns 44,760 shares of the real estate investment trust’s stock valued at $8,646,000 after buying an additional 7,780 shares during the period. Thrivent Financial for Lutherans grew its position in shares of AvalonBay Communities by 3.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 216,153 shares of the real estate investment trust’s stock worth $41,754,000 after buying an additional 6,511 shares during the period. Pensionfund PDN bought a new stake in shares of AvalonBay Communities in the 4th quarter valued at $3,648,000. Sun Life Financial Inc. lifted its position in shares of AvalonBay Communities by 5.7% during the 3rd quarter. Sun Life Financial Inc. now owns 161,087 shares of the real estate investment trust’s stock valued at $31,117,000 after acquiring an additional 8,660 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of AvalonBay Communities by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 444,222 shares of the real estate investment trust’s stock valued at $80,449,000 after acquiring an additional 17,352 shares during the period. 92.61% of the stock is currently owned by institutional investors.
About AvalonBay Communities
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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