Deutsche Bank AG Increases AvalonBay Communities, Inc. (AVB) Price Target to $195.00
AvalonBay Communities, Inc. (NYSE:AVB) had its price target raised by equities researchers at Deutsche Bank AG from $193.00 to $195.00 in a research report issued on Friday. The firm presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank AG’s target price indicates a potential upside of 2.43% from the company’s previous close.
AVB has been the topic of a number of other research reports. BidaskClub downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Barclays PLC raised their price target on AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. BMO Capital Markets restated a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $196.00 price objective on shares of AvalonBay Communities in a report on Tuesday, July 4th. Finally, Argus initiated coverage on AvalonBay Communities in a report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $193.75.
AvalonBay Communities (AVB) traded down 0.764% during mid-day trading on Friday, reaching $188.925. The company had a trading volume of 84,784 shares. The company’s 50-day moving average is $189.89 and its 200-day moving average is $187.56. The stock has a market capitalization of $26.02 billion, a PE ratio of 26.019 and a beta of 0.34. AvalonBay Communities has a one year low of $158.32 and a one year high of $199.52.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.14 by $0.05. AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. The company had revenue of $530.51 million during the quarter, compared to the consensus estimate of $529.48 million. During the same period in the previous year, the business earned $2.03 earnings per share. Equities research analysts anticipate that AvalonBay Communities will post $5.21 earnings per share for the current year.
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In other AvalonBay Communities news, insider William M. Mclaughlin sold 5,112 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $193.88, for a total transaction of $991,114.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 2 shares during the period. Muzinich & Co. Inc. increased its position in AvalonBay Communities by 104.0% in the first quarter. Muzinich & Co. Inc. now owns 665 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 339 shares during the period. Perigon Wealth Management LLC increased its position in AvalonBay Communities by 546.9% in the first quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 875 shares during the period. Eqis Capital Management Inc. bought a new position in AvalonBay Communities during the second quarter valued at approximately $201,000. Finally, Bbva Compass Bancshares Inc. bought a new position in AvalonBay Communities during the second quarter valued at approximately $206,000. 97.89% of the stock is owned by institutional investors and hedge funds.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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