AvalonBay Communities (NYSE:AVB) Coverage Initiated by Analysts at BNP Paribas

Research analysts at BNP Paribas began coverage on shares of AvalonBay Communities (NYSE:AVB) in a report released on Wednesday, Briefing.com reports. The firm set an “outperform” rating and a $250.00 price target on the real estate investment trust’s stock. BNP Paribas’ target price suggests a potential upside of 9.06% from the stock’s current price.

A number of other brokerages have also recently issued reports on AVB. Scotiabank upped their target price on AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Morgan Stanley upped their price target on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Mizuho raised their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Piper Sandler upped their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $218.94.

AvalonBay Communities Trading Up 1.7 %

AVB opened at $229.24 on Wednesday. The company has a market cap of $32.59 billion, a P/E ratio of 34.11, a PEG ratio of 3.03 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $212.41 and its 200-day moving average is $198.35. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $230.04.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter in the prior year, the business earned $2.66 EPS. Equities research analysts predict that AvalonBay Communities will post 11 earnings per share for the current fiscal year.

Insider Activity at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

Institutional Trading of AvalonBay Communities

A number of hedge funds have recently bought and sold shares of AVB. &PARTNERS purchased a new position in AvalonBay Communities in the second quarter valued at about $1,538,000. Lasalle Investment Management Securities LLC lifted its stake in AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after purchasing an additional 18,320 shares during the last quarter. GSI Capital Advisors LLC grew its holdings in AvalonBay Communities by 21.3% during the fourth quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock valued at $9,506,000 after purchasing an additional 8,925 shares during the period. Hsbc Holdings PLC raised its stake in shares of AvalonBay Communities by 9.2% in the fourth quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock valued at $84,890,000 after buying an additional 38,235 shares during the period. Finally, Sheets Smith Wealth Management purchased a new position in shares of AvalonBay Communities during the 1st quarter valued at $768,000. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.