Scotiabank Lowers AvalonBay Communities (NYSE:AVB) Price Target to $241.00

AvalonBay Communities (NYSE:AVB) had its price objective decreased by equities researchers at Scotiabank from $244.00 to $241.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 5.05% from the stock’s current price.

Several other research analysts also recently issued reports on AVB. Truist Financial upped their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. BNP Paribas started coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Piper Sandler lifted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $226.88.

AvalonBay Communities Stock Up 0.6 %

NYSE AVB opened at $229.41 on Thursday. The business has a fifty day moving average price of $226.26 and a two-hundred day moving average price of $212.16. The stock has a market capitalization of $32.63 billion, a PE ratio of 31.13, a PEG ratio of 3.40 and a beta of 0.97. AvalonBay Communities has a fifty-two week low of $166.60 and a fifty-two week high of $236.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The business had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter in the prior year, the firm earned $2.66 EPS. Equities analysts expect that AvalonBay Communities will post 11.04 earnings per share for the current fiscal year.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares of the company’s stock, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Institutional Trading of AvalonBay Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in AvalonBay Communities by 24.2% during the first quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust’s stock worth $340,000 after buying an additional 357 shares in the last quarter. Entropy Technologies LP grew its stake in shares of AvalonBay Communities by 2.5% in the 1st quarter. Entropy Technologies LP now owns 3,811 shares of the real estate investment trust’s stock worth $707,000 after acquiring an additional 93 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of AvalonBay Communities by 14.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust’s stock valued at $6,115,000 after purchasing an additional 4,138 shares during the last quarter. Blair William & Co. IL lifted its position in shares of AvalonBay Communities by 3.2% during the first quarter. Blair William & Co. IL now owns 9,758 shares of the real estate investment trust’s stock valued at $1,811,000 after purchasing an additional 305 shares in the last quarter. Finally, Great Lakes Retirement Inc. boosted its holdings in AvalonBay Communities by 3.9% during the first quarter. Great Lakes Retirement Inc. now owns 5,072 shares of the real estate investment trust’s stock worth $941,000 after purchasing an additional 189 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

About AvalonBay Communities

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.