AvalonBay Communities (NYSE:AVB) Price Target Raised to $249.00 at Deutsche Bank Aktiengesellschaft

AvalonBay Communities (NYSE:AVB) had its price target increased by Deutsche Bank Aktiengesellschaft from $206.00 to $249.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on AVB. Morgan Stanley lifted their target price on AvalonBay Communities from $203.00 to $209.00 and gave the stock an overweight rating in a report on Tuesday, May 14th. Piper Sandler increased their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an overweight rating in a report on Friday, August 2nd. Mizuho increased their price target on AvalonBay Communities from $185.00 to $194.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Truist Financial raised their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a hold rating in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada increased their price objective on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a sector perform rating in a research note on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $218.94.

AvalonBay Communities Stock Up 1.3 %

AvalonBay Communities stock opened at $234.75 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market capitalization of $33.38 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. AvalonBay Communities has a fifty-two week low of $160.45 and a fifty-two week high of $234.80. The stock’s fifty day moving average is $214.23 and its two-hundred day moving average is $199.23.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter in the prior year, the firm earned $2.66 EPS. Analysts predict that AvalonBay Communities will post 11.01 EPS for the current fiscal year.

Insider Buying and Selling at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of AvalonBay Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the 2nd quarter valued at $32,000. Versant Capital Management Inc boosted its position in shares of AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in shares of AvalonBay Communities during the 1st quarter worth $39,000. Pinnacle Bancorp Inc. boosted its position in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.