AvalonBay Communities (NYSE:AVB) Price Target Raised to $240.00 at Barclays

AvalonBay Communities (NYSE:AVB - Get Free Report) had its price objective upped by analysts at Barclays from $227.00 to $240.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price target would suggest a potential upside of 16.85% from the company's current price.

Several other research analysts have also weighed in on the company. Truist Financial increased their price objective on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. Zelman & Associates upgraded AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Evercore ISI increased their price objective on AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Piper Sandler lowered their price objective on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, BMO Capital Markets lowered AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price objective for the company. in a research report on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $238.86.

AvalonBay Communities Price Performance

Shares of AVB stock traded up $0.95 during trading hours on Friday, reaching $205.40. The company had a trading volume of 522,050 shares, compared to its average volume of 699,166. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a fifty day moving average of $206.99 and a 200-day moving average of $217.40. The company has a market capitalization of $29.24 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.11 and a beta of 0.86. AvalonBay Communities has a 12-month low of $180.40 and a 12-month high of $239.29.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AVB. Proathlete Wealth Management LLC purchased a new position in AvalonBay Communities in the first quarter valued at $29,000. Opal Wealth Advisors LLC purchased a new position in AvalonBay Communities in the first quarter valued at $33,000. Ancora Advisors LLC boosted its holdings in AvalonBay Communities by 1,666.7% in the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 150 shares during the period. Whipplewood Advisors LLC purchased a new position in AvalonBay Communities in the fourth quarter valued at $36,000. Finally, Crowley Wealth Management Inc. purchased a new position in AvalonBay Communities in the fourth quarter valued at $44,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

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.