Royal Bank Of Canada Has Lowered Expectations for AvalonBay Communities (NYSE:AVB) Stock Price

Key Points

• Royal Bank of Canada has lowered its price target for AvalonBay Communities from $216.00 to $211.00, maintaining a "sector perform" rating.
• AvalonBay's stock is currently trading at $181.91, representing a decline of 2.3%, with the company's recent quarterly earnings slightly exceeding analysts' expectations.
• The real estate investment trust holds a consensus rating of "Hold" among analysts, with an average target price of $234.43.

AvalonBay Communities (NYSE:AVB - Get Free Report) had its price objective reduced by analysts at Royal Bank Of Canada from $216.00 to $211.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's target price points to a potential upside of 15.99% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. Mizuho cut their target price on shares of AvalonBay Communities from $238.00 to $213.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. 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 note on Tuesday, July 15th. JPMorgan Chase & Co. lowered their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen cut shares of AvalonBay Communities from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Finally, Barclays upped their price target on shares of AvalonBay Communities from $240.00 to $241.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, AvalonBay Communities currently has a consensus rating of "Hold" and an average target price of $234.43.

AvalonBay Communities Stock Down 2.3%

Shares of NYSE AVB traded down $4.38 during midday trading on Friday, hitting $181.91. The company's stock had a trading volume of 481,726 shares, compared to its average volume of 794,286. AvalonBay Communities has a 1 year low of $180.40 and a 1 year high of $239.29. The business's fifty day simple moving average is $203.19 and its two-hundred day simple moving average is $208.71. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $25.90 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.64 and a beta of 0.85.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly 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 9.76%. The company had revenue of $689.90 million during the quarter, compared to the consensus estimate of $759.08 million. During the same quarter in the previous year, the firm earned $2.77 earnings per share. On average, equities analysts predict that AvalonBay Communities will post 11.48 EPS for the current year.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was 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 directly owned 22,782 shares in the company, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the sale, the executive vice president owned 17,617 shares of the company's stock, 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. 0.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors have recently made changes to their positions in the company. Proathlete Wealth Management LLC acquired a new stake in shares of AvalonBay Communities during the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities in the 1st quarter worth approximately $33,000. Ancora Advisors LLC lifted its holdings in AvalonBay Communities by 1,666.7% in 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 last quarter. Sound Income Strategies LLC lifted its holdings in AvalonBay Communities by 76.4% in 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 last quarter. Finally, Keystone Global Partners LLC acquired a new stake in AvalonBay Communities in the 1st quarter worth approximately $45,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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