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

AvalonBay Communities (NYSE:AVB) had its price objective lowered by investment analysts at Piper Sandler from $270.00 to $265.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price indicates a potential upside of 21.63% from the stock’s previous close.

Several other research firms also recently weighed in on AVB. Royal Bank of Canada upped their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Barclays cut their price target on AvalonBay Communities from $243.00 to $230.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Scotiabank cut their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Morgan Stanley downgraded AvalonBay Communities from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and increased their target price for the company from $239.00 to $242.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $235.73.

AvalonBay Communities Stock Down 0.5 %

AVB stock opened at $217.88 on Tuesday. AvalonBay Communities has a fifty-two week low of $169.37 and a fifty-two week high of $239.29. The business’s 50 day moving average price is $220.08 and its two-hundred day moving average price is $222.47. 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 company has a market capitalization of $30.99 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 3.10 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. As a group, analysts forecast that AvalonBay Communities will post 11.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AvalonBay Communities

Several hedge funds and other institutional investors have recently modified their holdings of AVB. State Street Corp raised its holdings in AvalonBay Communities by 2.2% in the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock worth $2,097,971,000 after purchasing an additional 196,938 shares during the period. Norges Bank bought a new position in AvalonBay Communities in the 4th quarter worth $1,499,050,000. Principal Financial Group Inc. raised its holdings in AvalonBay Communities by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust’s stock worth $1,009,781,000 after purchasing an additional 27,629 shares during the period. JPMorgan Chase & Co. raised its holdings in AvalonBay Communities by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock worth $914,627,000 after purchasing an additional 55,588 shares during the period. Finally, Geode Capital Management LLC raised its holdings in AvalonBay Communities by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust’s stock worth $810,470,000 after purchasing an additional 107,655 shares during the period. 92.61% of the stock is owned by institutional investors.

About AvalonBay Communities

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.