AvalonBay Communities (NYSE:AVB) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

AvalonBay Communities (NYSE:AVB) was downgraded by Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $172.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential downside of 3.11% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Sandler dropped their target price on shares of AvalonBay Communities from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Wall Street Zen lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Saturday. Truist Financial dropped their price objective on shares of AvalonBay Communities from $205.00 to $203.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company reduced their target price on AvalonBay Communities from $213.00 to $193.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, Morgan Stanley lowered their target price on AvalonBay Communities from $225.00 to $222.50 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Six analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $203.50.

AvalonBay Communities Price Performance

NYSE AVB traded down $4.91 during mid-day trading on Tuesday, hitting $177.52. The stock had a trading volume of 83,860 shares, compared to its average volume of 1,027,083. The company has a 50 day simple moving average of $180.05 and a 200 day simple moving average of $187.24. The company has a market cap of $25.14 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 3.10 and a beta of 0.75. AvalonBay Communities has a 52-week low of $166.73 and a 52-week high of $230.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.72.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.06). AvalonBay Communities had a net margin of 38.78% and a return on equity of 9.72%. The firm had revenue of $766.80 million during the quarter, compared to analyst estimates of $766.22 million. During the same period last year, the company posted $2.74 EPS. Equities analysts forecast that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

Institutional Trading of AvalonBay Communities

Hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at about $30,000. BOKF NA purchased a new stake in AvalonBay Communities in the third quarter valued at approximately $31,000. Clearstead Trust LLC increased 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 last quarter. AlphaQuest LLC acquired a new position in AvalonBay Communities during the third quarter worth approximately $33,000. Finally, Headlands Technologies LLC purchased a new position in AvalonBay Communities during the second quarter worth approximately $36,000. 92.61% of the stock is owned by institutional investors and hedge funds.

About AvalonBay Communities

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.