Wells Fargo & Company Cuts AvalonBay Communities (NYSE:AVB) Price Target to $213.00

Key Points

• Wells Fargo & Company has cut the price target for AvalonBay Communities from $244.00 to $213.00, maintaining an "overweight" rating, indicating a potential upside from the stock's previous close.
• AvalonBay Communities has been rated by analysts, with a current average rating of "Hold" and a consensus price target of $223.43, reflecting mixed opinions on the stock's outlook.
• Recent earnings results showed AvalonBay reporting $2.82 earnings per share, slightly exceeding analysts' expectations, while total revenue fell short at $689.90 million.

AvalonBay Communities (NYSE:AVB - Get Free Report) had its price target cut by analysts at Wells Fargo & Company from $244.00 to $213.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would indicate a potential upside of 10.73% from the stock's previous close.

A number of other analysts have also recently weighed in on AVB. Piper Sandler reissued a "neutral" rating and issued a $200.00 target price (down previously from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Mizuho reaffirmed a "neutral" rating and issued a $199.00 target price (down previously from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a report on Tuesday, June 17th. Scotiabank decreased their target price on shares of AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating for the company in a research report on Thursday, August 14th. Finally, Wall Street Zen raised shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, AvalonBay Communities presently has an average rating of "Hold" and a consensus price target of $223.43.

AvalonBay Communities Stock Up 0.0%

AvalonBay Communities stock opened at $192.37 on Wednesday. The firm has a market cap of $27.39 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The firm has a fifty day moving average price of $197.45 and a two-hundred day moving average price of $204.90.

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 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 firm had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. During the same quarter in the previous year, the business earned $2.77 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. As a group, analysts forecast that AvalonBay Communities will post 11.48 earnings per share for the current year.

Insider Buying and Selling

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 22,782 shares of the company's stock, valued at $4,728,859.74. The trade was a 20.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward M. Schulman sold 5,945 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 17,617 shares in the company, valued at $3,623,288.39. This trade represents a 25.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Proathlete Wealth Management LLC acquired a new position in AvalonBay Communities during the first quarter worth $29,000. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities during the first quarter valued at about $33,000. Clearstead Trust LLC boosted its position in AvalonBay Communities by 62.0% during the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 62 shares during the period. Ancora Advisors LLC boosted its position in AvalonBay Communities by 1,666.7% during the fourth 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. Finally, Headlands Technologies LLC bought a new position in AvalonBay Communities during the second quarter worth about $36,000. Institutional investors and hedge funds own 92.61% of the company's stock.

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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