Barclays Cuts AvalonBay Communities (NYSE:AVB) Price Target to $203.00

AvalonBay Communities (NYSE:AVB) had its price target decreased by equities researchers at Barclays from $206.00 to $203.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 9.72% from the company’s previous close.

AVB has been the subject of several other research reports. Royal Bank Of Canada boosted their target price on shares of AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company reduced their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a report on Wednesday, April 8th. Finally, Truist Financial cut their price objective on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $197.27.

AvalonBay Communities Stock Performance

Shares of AVB opened at $185.02 on Monday. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 3.17 and a beta of 0.79. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $172.04 and its two-hundred day moving average is $176.66. AvalonBay Communities has a 52-week low of $160.10 and a 52-week high of $209.86.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The company had revenue of $770.28 million during the quarter, compared to the consensus estimate of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter last year, the firm posted $2.83 EPS. Analysts forecast that AvalonBay Communities will post 11.3 EPS for the current fiscal year.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Sun Financial Corp grew its stake in AvalonBay Communities by 5.1% in the first quarter. Pacific Sun Financial Corp now owns 3,239 shares of the real estate investment trust’s stock valued at $534,000 after purchasing an additional 158 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in AvalonBay Communities in the 1st quarter worth $297,000. Dimensional Fund Advisors LP grew its position in AvalonBay Communities by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,137,158 shares of the real estate investment trust’s stock worth $349,098,000 after purchasing an additional 28,741 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of AvalonBay Communities by 13.4% during the 1st quarter. Parallel Advisors LLC now owns 1,167 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 138 shares during the period. Finally, SEB Asset Management AB bought a new stake in shares of AvalonBay Communities in the first quarter valued at about $9,389,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.