UBS Group Has Lowered Expectations for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price objective lowered by research analysts at UBS Group from $191.00 to $189.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s target price points to a potential upside of 4.62% from the stock’s previous close.

AVB has been the topic of a number of other reports. Royal Bank Of Canada upped their target price on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Barclays dropped their price objective on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a research note on Tuesday, January 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $203.00 price objective (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Finally, Scotiabank dropped their price objective on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $196.93.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $180.66 on Thursday. AvalonBay Communities has a 52 week low of $160.10 and a 52 week high of $209.86. 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 firm’s 50-day simple moving average is $172.83 and its 200 day simple moving average is $176.60. The firm has a market capitalization of $25.13 billion, a PE ratio of 26.18, a P/E/G ratio of 3.16 and a beta of 0.79.

AvalonBay Communities (NYSE:AVB) last released its 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 firm had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same quarter last year, the company posted $2.83 earnings per share. On average, equities research analysts predict that AvalonBay Communities will post 11.31 EPS for the current fiscal year.

Hedge Funds Weigh In On AvalonBay Communities

A number of institutional investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its position in AvalonBay Communities by 18,031.0% in the 4th quarter. Auto Owners Insurance Co now owns 11,785,150 shares of the real estate investment trust’s stock valued at $213,677,000 after buying an additional 11,720,150 shares during the last quarter. Norges Bank acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth approximately $1,394,635,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AvalonBay Communities by 15,065.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,801,071 shares of the real estate investment trust’s stock worth $326,552,000 after buying an additional 1,789,195 shares in the last quarter. Bank of America Corp DE grew its position in shares of AvalonBay Communities by 76.0% during the third quarter. Bank of America Corp DE now owns 2,355,838 shares of the real estate investment trust’s stock worth $455,077,000 after buying an additional 1,017,286 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of AvalonBay Communities by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,159,950 shares of the real estate investment trust’s stock worth $935,551,000 after buying an additional 944,129 shares in the last quarter. 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.