AvalonBay Communities (NYSE:AVB – Get Free Report) had its price objective hoisted by analysts at Truist Financial from $201.00 to $202.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would indicate a potential upside of 8.84% from the stock’s previous close.
Several other brokerages have also issued reports on AVB. UBS Group lowered their price target on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Wells Fargo & Company dropped their target price on shares of AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Wolfe Research upgraded shares of AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 target price for the company in a research note on Monday, June 1st. Wall Street Zen raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Five 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.com, the stock presently has an average rating of “Hold” and an average target price of $198.50.
Get Our Latest Analysis on AvalonBay Communities
AvalonBay Communities Stock Up 0.6%
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). The company had revenue of $770.28 million for the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter last year, the business posted $2.83 earnings per share. On average, equities research analysts expect that AvalonBay Communities will post 11.29 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in AvalonBay Communities by 46.2% during the first quarter. Empowered Funds LLC now owns 5,139 shares of the real estate investment trust’s stock worth $839,000 after acquiring an additional 1,625 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of AvalonBay Communities by 23.3% during the first quarter. NewEdge Advisors LLC now owns 6,248 shares of the real estate investment trust’s stock worth $1,021,000 after purchasing an additional 1,179 shares during the period. Groupe la Francaise increased its holdings in AvalonBay Communities by 22.2% in the first quarter. Groupe la Francaise now owns 32,072 shares of the real estate investment trust’s stock valued at $5,239,000 after purchasing an additional 5,826 shares during the period. Western Wealth Management LLC bought a new position in AvalonBay Communities during the 1st quarter worth $55,000. Finally, Bank of America Corp DE lifted its holdings in AvalonBay Communities by 10.8% during the 1st quarter. Bank of America Corp DE now owns 2,204,314 shares of the real estate investment trust’s stock worth $360,075,000 after buying an additional 215,559 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.
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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