AvalonBay Communities (NYSE:AVB) Price Target Raised to $206.00 at Barclays

Key Points

• Barclays raised its price target on AvalonBay to $206 from $202 and kept an overweight rating, implying about an 18.48% upside from the stock's current price.
• AvalonBay slightly beat quarterly estimates with EPS of $2.85 (vs. $2.84 est.) and revenue of $767.9M (vs. $766.4M), and the stock traded up to $173.87 amid a market cap of $24.19 billion and a P/E of 21.25.
• Analyst consensus remains a Hold with a blended price target of $197.13; among analysts, 4 rate AVB as Buy and 13 as Hold.

AvalonBay Communities (NYSE:AVB - Get Free Report) had its target price boosted by stock analysts at Barclays from $202.00 to $206.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Barclays's target price points to a potential upside of 18.48% from the stock's current price.

AVB has been the topic of several other research reports. UBS Group dropped their target price on shares of AvalonBay Communities from $192.00 to $191.00 and set a "neutral" rating on the stock in a research note on Thursday, January 8th. Morgan Stanley restated an "equal weight" rating and issued a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Wall Street Zen downgraded AvalonBay Communities from a "hold" rating to a "sell" rating in a report on Saturday, February 7th. Piper Sandler decreased their target price on AvalonBay Communities from $190.00 to $183.00 and set a "neutral" rating for the company in a research report on Monday, February 9th. Finally, Cantor Fitzgerald upped their target price on shares of AvalonBay Communities from $179.00 to $186.00 and gave the company a "neutral" rating in a research note on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AvalonBay Communities has an average rating of "Hold" and a consensus price target of $197.13.

AvalonBay Communities Stock Up 0.9%

Shares of AVB traded up $1.49 during mid-day trading on Monday, reaching $173.87. The company had a trading volume of 96,466 shares, compared to its average volume of 1,067,130. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $24.19 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 3.02 and a beta of 0.75. The firm has a 50-day moving average price of $171.20 and a 200 day moving average price of $176.76. AvalonBay Communities has a 52 week low of $160.10 and a 52 week high of $213.34.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.01. The business had revenue of $767.86 million during the quarter, compared to analysts' expectations of $766.38 million. AvalonBay Communities had a return on equity of 8.78% and a net margin of 34.57%.During the same quarter in the previous year, the business earned $2.80 earnings per share. On average, sell-side analysts forecast that AvalonBay Communities will post 11.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in AvalonBay Communities by 1.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,358 shares of the real estate investment trust's stock valued at $649,000 after buying an additional 60 shares during the last quarter. PFG Investments LLC grew its position in shares of AvalonBay Communities by 4.4% during the 3rd quarter. PFG Investments LLC now owns 1,456 shares of the real estate investment trust's stock valued at $281,000 after acquiring an additional 61 shares during the period. Keybank National Association OH increased its stake in shares of AvalonBay Communities by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,458 shares of the real estate investment trust's stock worth $446,000 after purchasing an additional 62 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of AvalonBay Communities by 13.3% in the 3rd quarter. Global Retirement Partners LLC now owns 564 shares of the real estate investment trust's stock worth $109,000 after purchasing an additional 66 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in AvalonBay Communities by 1.5% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,779 shares of the real estate investment trust's stock worth $1,116,000 after purchasing an additional 84 shares during the period. Institutional investors 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.

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