Barclays Has Lowered Expectations for AvalonBay Communities (NYSE:AVB) Stock Price

Key Points

• Barclays trimmed its price target on AvalonBay Communities from $206 to $203 while keeping an overweight rating, implying about 9.7% upside from the prior close.
• Analyst sentiment remains cautious overall: the stock now has a consensus Hold rating with a consensus target price of $197.27, and several firms recently made mixed target and rating changes.
• AVB most recently reported earnings below expectations, posting $2.33 EPS versus the $2.80 estimate, even though revenue slightly beat forecasts at $770.28 million.

AvalonBay Communities (NYSE:AVB - Get Free Report) had its price target cut by research analysts at Barclays from $206.00 to $203.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Barclays's price target indicates a potential upside of 9.72% from the company's previous close.

AVB has been the subject of several other reports. Piper Sandler lowered their price objective 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. Truist Financial lowered their price target on AvalonBay Communities from $203.00 to $201.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Cantor Fitzgerald raised their price objective on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $203.00 price target (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of "Hold" and a consensus target price of $197.27.

AvalonBay Communities Stock Up 0.5%

Shares of NYSE:AVB opened at $185.02 on Monday. The business has a fifty day moving average of $172.04 and a two-hundred day moving average of $176.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. The stock has a market cap of $25.74 billion, a P/E ratio of 26.82, a PEG ratio of 3.17 and a beta of 0.79. AvalonBay Communities has a 52-week low of $160.10 and a 52-week high of $209.86.

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

Institutional Trading of AvalonBay Communities

A number of large investors have recently made changes to their positions in AVB. Reflection Asset Management acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth about $25,000. Clearstead Trust LLC lifted its holdings in shares of AvalonBay Communities by 56.0% during the 1st 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 period. Zions Bancorporation National Association UT boosted its position in shares of AvalonBay Communities by 300.0% in 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 stake in AvalonBay Communities in the third quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds 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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