AvalonBay Communities (NYSE:AVB) Upgraded to Hold at Wall Street Zen

Key Points

• AvalonBay Communities was upgraded from a "sell" to a "hold" rating by Wall Street Zen, with a consensus rating of "Hold" and an average price target of $234.43.
• Shares of AvalonBay are currently priced at $184.35, down 1.0%, with a market capitalization of $26.25 billion and a PE ratio of 22.70.
• Recent insider selling includes CFO Kevin P. O'Shea and EVP Edward M. Schulman, who reduced their holdings by 20.85% and 25.23%, respectively.

AvalonBay Communities (NYSE:AVB - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Piper Sandler cut their price target on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. BMO Capital Markets downgraded shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target for the company. in a research note on Friday, April 4th. Morgan Stanley boosted their price target on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. UBS Group dropped their price objective on shares of AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Finally, Scotiabank decreased their price objective on shares of AvalonBay Communities from $251.00 to $236.00 and set a "sector perform" rating for the company in a research report on Friday, June 13th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of "Hold" and an average target price of $234.43.

AvalonBay Communities Stock Down 1.0%

Shares of NYSE:AVB opened at $184.35 on Friday. The firm has a market capitalization of $26.25 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.51 and a beta of 0.86. AvalonBay Communities has a 1 year low of $180.40 and a 1 year high of $239.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.51. The firm's 50-day moving average is $202.91 and its two-hundred day moving average is $208.48.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.02. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. The company had revenue of $689.90 million for the quarter, compared to analyst estimates of $759.08 million. During the same period in the prior year, the business earned $2.77 EPS. Analysts predict that AvalonBay Communities will post 11.48 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kevin P. O'shea sold 6,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the sale, the chief financial officer owned 22,782 shares in the company, valued at $4,728,859.74. This represents a 20.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president directly owned 17,617 shares in the company, valued at $3,623,288.39. The trade was a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AVB. Proathlete Wealth Management LLC acquired a new position in shares of AvalonBay Communities during the first quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the 1st quarter valued at approximately $33,000. Ancora Advisors LLC increased its position 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 worth $35,000 after purchasing an additional 150 shares during the period. Sound Income Strategies LLC increased its position in AvalonBay Communities by 76.4% during the 2nd quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 81 shares during the period. Finally, Keystone Global Partners LLC purchased a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $45,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

About AvalonBay Communities

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.

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