AvalonBay Communities, Inc. (NYSE:AVB) Receives $211.12 Consensus Target Price from Brokerages

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) has received a consensus rating of "Hold" from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $213.06.

A number of equities analysts have commented on AVB shares. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a "neutral" rating in a research note on Monday, June 17th. UBS Group lifted their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th. Barclays lifted their target price on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an "overweight" rating in a research note on Monday, April 29th. Morgan Stanley lifted their price target on shares of AvalonBay Communities from $203.00 to $209.00 and gave the company an "overweight" rating in a research report on Tuesday, May 14th. Finally, Royal Bank of Canada lifted their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a "sector perform" rating in a research report on Friday, August 2nd.

Insider Transactions at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Keri A. Shea sold 2,000 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now owns 65,967 shares of the company's stock, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Insiders own 0.42% of the company's stock.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently bought and sold shares of AVB. Lasalle Investment Management Securities LLC raised its position in AvalonBay Communities by 3.1% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust's stock worth $112,827,000 after buying an additional 18,320 shares during the last quarter. GSI Capital Advisors LLC raised its position in AvalonBay Communities by 21.3% during the 4th quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust's stock worth $9,506,000 after buying an additional 8,925 shares during the last quarter. Van ECK Associates Corp raised its position in AvalonBay Communities by 14.4% during the 4th quarter. Van ECK Associates Corp now owns 58,931 shares of the real estate investment trust's stock worth $11,033,000 after buying an additional 7,397 shares during the last quarter. Hsbc Holdings PLC raised its position in AvalonBay Communities by 9.2% during the 4th quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust's stock worth $84,890,000 after buying an additional 38,235 shares during the last quarter. Finally, Sheets Smith Wealth Management purchased a new position in AvalonBay Communities during the 1st quarter worth $768,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB traded down $1.82 during midday trading on Monday, hitting $219.91. The company's stock had a trading volume of 455,968 shares, compared to its average volume of 718,195. The business's 50 day simple moving average is $207.78 and its 200 day simple moving average is $194.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $31.27 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. AvalonBay Communities has a 12-month low of $160.45 and a 12-month high of $222.97.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The firm had revenue of $726.04 million for the quarter, compared to analysts' expectations of $718.49 million. During the same period last year, the firm earned $2.66 earnings per share. On average, analysts forecast that AvalonBay Communities will post 10.97 EPS for the current year.

About AvalonBay Communities

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.