AvalonBay Communities (NYSE:AVB) had its target price increased by Wells Fargo & Co from $218.00 to $224.00 in a research report released on Tuesday morning, The Fly reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

AVB has been the subject of several other reports. Citigroup increased their price objective on AvalonBay Communities from $205.00 to $210.00 and gave the stock a neutral rating in a research note on Tuesday, August 6th. Morgan Stanley upped their target price on AvalonBay Communities from $194.00 to $217.00 and gave the stock an equal weight rating in a research report on Thursday, June 27th. Mizuho lowered AvalonBay Communities from a buy rating to a neutral rating and set a $210.00 target price on the stock. in a research report on Wednesday, May 8th. ValuEngine lowered AvalonBay Communities from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Robert W. Baird raised AvalonBay Communities from a neutral rating to an outperform rating and upped their target price for the stock from $198.00 to $215.00 in a research report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. AvalonBay Communities currently has an average rating of Hold and an average target price of $210.31.

Shares of AvalonBay Communities stock opened at $205.84 on Tuesday. The stock has a 50-day moving average price of $207.09 and a 200 day moving average price of $201.90. The company has a market cap of $28.15 billion, a P/E ratio of 22.01, a P/E/G ratio of 3.71 and a beta of 0.53. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. AvalonBay Communities has a 1 year low of $167.01 and a 1 year high of $214.10.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($1.10). The business had revenue of $577.26 million during the quarter, compared to analysts’ expectations of $572.69 million. AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. During the same period in the prior year, the company posted $2.23 earnings per share. On average, equities analysts forecast that AvalonBay Communities will post 9.34 earnings per share for the current fiscal year.

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 250 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $205.49, for a total value of $51,372.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William M. Mclaughlin sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $209.07, for a total value of $522,675.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,250 shares of company stock worth $1,513,723. Insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AVB. Parnassus Investments CA acquired a new position in shares of AvalonBay Communities during the 2nd quarter valued at about $281,643,000. Nuveen Asset Management LLC increased its holdings in shares of AvalonBay Communities by 157.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,135,697 shares of the real estate investment trust’s stock valued at $433,931,000 after acquiring an additional 1,305,014 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of AvalonBay Communities by 11.8% during the 1st quarter. Principal Financial Group Inc. now owns 4,208,825 shares of the real estate investment trust’s stock valued at $844,837,000 after acquiring an additional 445,179 shares during the last quarter. BlackRock Inc. increased its holdings in shares of AvalonBay Communities by 2.0% during the 1st quarter. BlackRock Inc. now owns 16,019,099 shares of the real estate investment trust’s stock valued at $3,215,513,000 after acquiring an additional 318,151 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of AvalonBay Communities by 25.6% during the 2nd quarter. California Public Employees Retirement System now owns 1,071,065 shares of the real estate investment trust’s stock valued at $217,619,000 after acquiring an additional 218,169 shares during the last quarter. 91.88% of the stock is currently owned by institutional investors and hedge funds.

About AvalonBay Communities

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

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Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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