Stifel Nicolaus Reaffirms Buy Rating for AvalonBay Communities (AVB)

AvalonBay Communities (NYSE:AVB)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a research note issued on Friday. They currently have a $185.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 9.66% from the stock’s previous close.

AVB has been the subject of several other research reports. Royal Bank of Canada decreased their target price on shares of AvalonBay Communities from $206.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Mizuho restated a “buy” rating and issued a $220.00 target price on shares of AvalonBay Communities in a research report on Monday, November 6th. UBS Group upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their target price for the stock from $190.00 to $206.00 in a research report on Thursday, November 9th. Robert W. Baird restated a “buy” rating and issued a $187.00 target price on shares of AvalonBay Communities in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. cut shares of AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 target price for the company. in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. AvalonBay Communities has a consensus rating of “Hold” and a consensus target price of $199.40.

AvalonBay Communities (NYSE AVB) opened at $168.70 on Friday. AvalonBay Communities has a 1 year low of $167.09 and a 1 year high of $199.52. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. The company has a market cap of $23,169.77, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.49 and a beta of 0.35.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The firm had revenue of $550.50 million during the quarter, compared to the consensus estimate of $539.69 million. During the same quarter last year, the company posted $2.11 EPS. AvalonBay Communities’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts forecast that AvalonBay Communities will post 8.62 earnings per share for the current year.

In other news, COO Sean J. Breslin sold 1,500 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $182.65, for a total value of $273,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,628,669 over the last quarter. Insiders own 0.46% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in AvalonBay Communities by 22.2% during the second quarter. FMR LLC now owns 5,341,390 shares of the real estate investment trust’s stock valued at $1,026,454,000 after purchasing an additional 969,095 shares during the last quarter. Janus Henderson Group PLC lifted its stake in AvalonBay Communities by 151.2% during the third quarter. Janus Henderson Group PLC now owns 629,410 shares of the real estate investment trust’s stock valued at $112,300,000 after purchasing an additional 378,809 shares during the last quarter. Koch Industries Inc. acquired a new stake in AvalonBay Communities during the second quarter valued at approximately $365,000. Old Mutual Global Investors UK Ltd. lifted its stake in AvalonBay Communities by 185.9% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 504,090 shares of the real estate investment trust’s stock valued at $89,939,000 after purchasing an additional 327,763 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in AvalonBay Communities by 316.7% during the third quarter. Canada Pension Plan Investment Board now owns 407,714 shares of the real estate investment trust’s stock valued at $72,744,000 after purchasing an additional 309,867 shares during the last quarter. Institutional investors and hedge funds own 94.86% of the company’s stock.

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About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.

Analyst Recommendations for AvalonBay Communities (NYSE:AVB)

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