Truist Financial Increases AvalonBay Communities (NYSE:AVB) Price Target to $230.00

AvalonBay Communities (NYSE:AVB - Get Free Report) had its price objective boosted by equities researchers at Truist Financial from $229.00 to $230.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price suggests a potential upside of 7.83% from the company's previous close.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of AvalonBay Communities from $226.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $236.00 to $223.00 in a research report on Friday, January 24th. Zelman & Associates raised AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Barclays dropped their target price on AvalonBay Communities from $230.00 to $226.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Finally, Piper Sandler lowered their price objective on shares of AvalonBay Communities from $270.00 to $265.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities has a consensus rating of "Moderate Buy" and an average target price of $238.64.

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AvalonBay Communities Trading Down 1.4 %

Shares of NYSE AVB traded down $3.07 during midday trading on Monday, reaching $213.30. 592,358 shares of the stock were exchanged, compared to its average volume of 635,622. AvalonBay Communities has a twelve month low of $177.40 and a twelve month high of $239.29. The stock has a market capitalization of $30.34 billion, a P/E ratio of 28.10, a PEG ratio of 3.11 and a beta of 1.00. The company has a 50 day simple moving average of $218.74 and a 200 day simple moving average of $223.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. As a group, equities analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new stake in AvalonBay Communities in the third quarter valued at $26,000. Ancora Advisors LLC increased its position in AvalonBay Communities by 1,666.7% during the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 150 shares during the period. Whipplewood Advisors LLC purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $36,000. Brooklyn Investment Group acquired a new stake in shares of AvalonBay Communities in the third quarter valued at approximately $39,000. Finally, Crowley Wealth Management Inc. acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 92.61% of the company's stock.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.