Barclays Boosts AvalonBay Communities (NYSE:AVB) Price Target to $241.00

AvalonBay Communities (NYSE:AVB) had its price objective lifted by investment analysts at Barclays from $240.00 to $241.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 19.55% from the company’s previous close.

AVB has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on 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 price target on AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating for the company in a report on Friday, June 13th. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective for the company. in a research note on Friday, April 4th. Royal Bank Of Canada cut their price target on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Finally, Piper Sandler dropped their price objective on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $235.93.

AvalonBay Communities Stock Performance

Shares of AVB opened at $201.59 on Tuesday. AvalonBay Communities has a 12-month low of $180.40 and a 12-month high of $239.29. The firm’s 50 day moving average is $204.58 and its 200-day moving average is $210.01. The stock has a market capitalization of $28.70 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.72 and a beta of 0.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.51 and a quick ratio of 0.51.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The business had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. During the same quarter in the prior year, the firm earned $2.70 EPS. Equities research analysts anticipate that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

Insider Buying and Selling at AvalonBay Communities

In related news, CFO Kevin P. O’shea sold 6,000 shares of AvalonBay Communities stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the sale, the chief financial officer owned 22,782 shares of the company’s stock, valued at approximately $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward M. Schulman sold 5,945 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the transaction, the executive vice president directly owned 17,617 shares in the company, valued at $3,623,288.39. The trade was a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Proathlete Wealth Management LLC purchased a new position in AvalonBay Communities during the first quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the 1st quarter worth approximately $33,000. Ancora Advisors LLC increased 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 buying an additional 150 shares during the period. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $44,000. Finally, Keystone Global Partners LLC acquired a new stake in AvalonBay Communities in the 1st quarter valued at $45,000. 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.