AvalonBay Communities (NYSE:AVB) PT Raised to $228.00 at UBS Group

AvalonBay Communities (NYSE:AVB – Get Free Report) was raised by equities research analysts at UBS Group to $228.00 from $210.00 in a research note issued Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment company’s stock. UBS Group’s price target suggests a potential upside of 9.95% from the stock’s current price.

A number of other equities research analysts have also weighed in on AVB recently. Wells Fargo & Company increased their price target on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Scotiabank increased their price target on shares of AvalonBay Communities from $193.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Piper Sandler increased their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Mizuho increased their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Finally, Argus raised their price objective on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average price objective of $207.76.

Get our latest stock report on AvalonBay Communities

AvalonBay Communities shares down 0.6%

AVB shares opened at $207.37 on Thursday. AvalonBay Communities has a 52-week low of $160.45 and a 52-week high of $211.20. The company has a market cap of $29.49 billion, a price-to-earnings ratio of 30.86, a price-to-earnings growth ratio of 3.03 and a beta of 0.96. The company’s 50-day moving average price is $200.31 and its 200-day moving average price is $188.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

AvalonBay Communities (NYSE:AVB – Get Free Report) last released its quarterly earnings results on Friday, April 26. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). The company had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period last year, the company earned $2.57 earnings per share. As a group, analysts have forecast that AvalonBay Communities will post earnings of 10.92 per share for the current fiscal year.

Institutional Trading from AvalonBay Communities

Hedge funds have been buying and selling shares of the company recently. Norges Bank bought a new position in shares of AvalonBay Communities during the 4th quarter worth approximately $1,271,756,000. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of AvalonBay Communities by 70.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock worth $156,354,000 after purchasing an additional 346,214 shares in the last quarter. Heitman Real Estate Securities LLC increased its stake in AvalonBay Communities by 307.4% in the 4th quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust worth $65,734,000 after purchasing an additional 264,923 shares during the period. Canada Pension Plan Investment Board increased its stake in AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust worth $367,534,000 after purchasing an additional 249,400 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in AvalonBay Communities by 4,563.7% during the first quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust worth $39,488,000 after purchasing an additional 208,240 shares during the period. Institutional investors own 92.61% of the company’s shares.

AvalonBay Communities Company Profile

(Get free report)

As of December 31, 2023, the Company owned or had a direct or indirect ownership interest in 299 apartment communities with 90,669 units located in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT engaged in the development, redeveloping, acquiring and managing of apartment communities in leading metropolitan areas in New England, the New York/New Jersey metropolitan 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.

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