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

Key Points

• Wall Street Zen upgraded AvalonBay Communities from sell to hold, adding to a broader analyst picture that is currently mixed but leans cautious.
• Among other firms, Wells Fargo, Citigroup, RBC, Deutsche Bank, and Piper Sandler all adjusted ratings or price targets, and the stock now carries an average Hold rating with a consensus price target of $197.47.
• AvalonBay reported Q1 EPS of $2.33, missing estimates of $2.80, while revenue of $770.28 million slightly beat expectations; the stock recently traded at $184.12 with institutional investors owning 92.61% of shares.

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

A number of other research firms have also commented on AVB. Wells Fargo & Company cut their price target on AvalonBay Communities from $193.00 to $191.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Citigroup lowered their price objective on AvalonBay Communities from $212.00 to $198.00 and set a "neutral" rating on the stock in a research report on Friday, February 13th. Royal Bank Of Canada increased their price objective 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. Deutsche Bank Aktiengesellschaft downgraded AvalonBay Communities from a "buy" rating to a "hold" rating and set a $172.00 price objective on the stock. in a research report on Tuesday, January 20th. Finally, Piper Sandler lowered their price objective on AvalonBay Communities from $190.00 to $183.00 and set a "neutral" rating on the stock in a research report on Monday, February 9th. Four analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $197.47.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $184.12 on Friday. AvalonBay Communities has a one year low of $160.10 and a one year high of $209.86. The business has a fifty day moving average price of $172.04 and a 200-day moving average price of $176.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $25.61 billion, a P/E ratio of 26.68, a PEG ratio of 3.20 and a beta of 0.79.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing analysts' consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The company had revenue of $770.28 million during the quarter, compared to the consensus estimate of $768.80 million. During the same period in the previous year, the business earned $2.83 earnings per share. As a group, equities research analysts forecast that AvalonBay Communities will post 11.3 EPS for the current year.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors and hedge funds have recently made changes to their positions in the business. Reflection Asset Management bought a new position in AvalonBay Communities in the fourth quarter valued at $25,000. Clearstead Trust LLC raised its position in AvalonBay Communities by 56.0% during the first quarter. Clearstead Trust LLC now owns 156 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Zions Bancorporation National Association UT raised its position in 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 valued at $29,000 after purchasing an additional 120 shares in the last quarter. BOKF NA purchased a new stake in AvalonBay Communities during the third quarter valued at about $31,000. Finally, AlphaQuest LLC purchased a new stake in AvalonBay Communities during the third quarter valued at about $33,000. Hedge funds and other 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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