AvalonBay Communities (NYSE:AVB) Given New $251.00 Price Target at Scotiabank

AvalonBay Communities (NYSE:AVB - Free Report) had its price target upped by Scotiabank from $241.00 to $251.00 in a report issued on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust's stock.

AVB has been the topic of a number of other research reports. Piper Sandler cut their target price on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. BMO Capital Markets downgraded AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a report on Friday, April 4th. Truist Financial upped their price target on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Zelman & Associates raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley cut shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $236.00 to $223.00 in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities has an average rating of "Hold" and a consensus target price of $239.57.

AvalonBay Communities Stock Down 1.6%

Shares of AVB traded down $3.25 during mid-day trading on Monday, reaching $201.45. The company's stock had a trading volume of 858,391 shares, compared to its average volume of 702,373. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities has a 12-month low of $180.40 and a 12-month high of $239.29. The stock has a market cap of $28.68 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The company's 50 day moving average is $206.05 and its 200 day moving average is $217.09.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. The company had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. During the same period in the prior year, the firm posted $2.70 earnings per share. Equities analysts anticipate that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

Institutional Trading of AvalonBay Communities

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Proathlete Wealth Management LLC acquired a new stake in AvalonBay Communities in the first quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities in the 1st quarter valued at about $33,000. Ancora Advisors LLC increased its holdings in AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 150 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in AvalonBay Communities during the fourth quarter worth about $36,000. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.