AvalonBay Communities (NYSE:AVB) Given "Neutral" Rating at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed a “Neutral” rating on AvalonBay Communities with a $190 price target, implying approximately 3.23% upside from the prior close.
• Analyst sentiment remains cautious: 15 analysts rate the stock “Hold” and three rate it “Buy,” producing a consensus “Hold” rating and an average target price of $196.87.
• AvalonBay reported quarterly EPS of $1.11, below the $1.23 consensus estimate, although revenue of $777.77 million exceeded expectations. Institutional investors own 92.61% of the company’s shares.

AvalonBay Communities (NYSE:AVB - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They currently have a $190.00 price target on the real estate investment trust's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 3.23% from the company's previous close.

AVB has been the topic of several other reports. Royal Bank Of Canada raised their target price on AvalonBay Communities from $180.00 to $188.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 29th. Barclays raised their price objective on shares of AvalonBay Communities from $205.00 to $206.00 and gave the stock an "equal weight" rating in a report on Monday. Weiss Ratings lowered shares of AvalonBay Communities from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Truist Financial lifted their price target on shares of AvalonBay Communities from $201.00 to $202.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $196.87.

AvalonBay Communities Stock Performance

AvalonBay Communities stock opened at $184.06 on Wednesday. AvalonBay Communities has a 12 month low of $160.10 and a 12 month high of $198.63. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76. The business's fifty day simple moving average is $187.80 and its two-hundred day simple moving average is $180.28. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.74.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.12). The business had revenue of $777.77 million during the quarter, compared to the consensus estimate of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period in the previous year, the business posted $2.82 EPS. As a group, equities analysts predict that AvalonBay Communities will post 11.33 earnings per share for the current fiscal year.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVB. Reflection Asset Management bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at approximately $25,000. Clearstead Trust LLC boosted its position in shares of AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 56 shares during the last quarter. Zions Bancorporation National Association UT boosted its position in shares of AvalonBay Communities by 300.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 160 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 120 shares during the last quarter. BOKF NA purchased a new position in AvalonBay Communities during the third quarter valued at $31,000. Finally, Elyxium Wealth LLC purchased a new stake in AvalonBay Communities in the 4th quarter worth $32,000. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Company Profile

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.

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