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

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

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company raised their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an overweight rating in a research report on Monday, August 26th. Royal Bank of Canada lifted their price target on AvalonBay Communities from $207.00 to $214.00 and gave the stock a sector perform rating in a report on Friday, August 2nd. Truist Financial upped their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a hold rating in a report on Tuesday, August 27th. Mizuho increased their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the stock a neutral rating in a research report on Thursday, May 30th. Finally, Morgan Stanley raised their price objective on AvalonBay Communities from $203.00 to $209.00 and gave the company an overweight rating in a research note on Tuesday, May 14th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $218.94.

AvalonBay Communities Stock Up 0.7 %

AVB stock opened at $231.66 on Tuesday. AvalonBay Communities has a 1-year low of $160.45 and a 1-year high of $232.33. The business’s 50 day simple moving average is $213.60 and its 200 day simple moving average is $198.80. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $32.94 billion, a PE ratio of 34.47, a PEG ratio of 3.03 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million during 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 earnings per share. As a group, research analysts anticipate that AvalonBay Communities will post 11 EPS for the current year.

Insider Buying and Selling at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction that occurred on 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 $908,026.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On AvalonBay Communities

Several institutional investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in AvalonBay Communities during the 2nd quarter worth $32,000. Versant Capital Management Inc grew its position in AvalonBay Communities by 1,877.8% in 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 bought a new stake in AvalonBay Communities in the 1st quarter worth about $39,000. Pinnacle Bancorp Inc. increased its stake in AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 73 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

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.