Truist Financial Has Lowered Expectations for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price objective cut by Truist Financial from $205.00 to $203.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 11.25% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company reduced their price objective 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. Royal Bank Of Canada dropped their target price on shares of AvalonBay Communities from $202.00 to $197.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. BNP Paribas lowered shares of AvalonBay Communities from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. UBS Group lowered their price objective on shares of AvalonBay Communities from $192.00 to $191.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, Mizuho cut their target price on shares of AvalonBay Communities from $199.00 to $191.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Six research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $205.75.

AvalonBay Communities Trading Up 0.9%

NYSE AVB opened at $182.47 on Tuesday. The company has a market capitalization of $25.84 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.67 and a quick ratio of 0.67. AvalonBay Communities has a 12 month low of $166.73 and a 12 month high of $230.21. The company’s fifty day moving average price is $180.05 and its two-hundred day moving average price is $187.24.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVB. Mather Group LLC. bought a new stake in shares of AvalonBay Communities during the third quarter valued at approximately $30,000. BOKF NA acquired a new stake in AvalonBay Communities in the 3rd quarter valued at approximately $31,000. Clearstead Trust LLC raised its stake in AvalonBay Communities by 62.0% during the 2nd quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. AlphaQuest LLC acquired a new position in AvalonBay Communities during the 3rd quarter worth $33,000. Finally, Headlands Technologies LLC acquired a new position in AvalonBay Communities during the 2nd quarter worth $36,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

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.