Barclays Lowers AvalonBay Communities (NYSE:AVB) Price Target to $226.00

AvalonBay Communities (NYSE:AVB) had its price objective reduced by equities research analysts at Barclays from $230.00 to $226.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 3.70% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of AvalonBay Communities from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Scotiabank lowered their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Piper Sandler reduced their price objective on AvalonBay Communities from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada raised their price target on shares of AvalonBay Communities from $226.00 to $229.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.47.

AvalonBay Communities Stock Performance

AVB opened at $217.94 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities has a 52-week low of $172.85 and a 52-week high of $239.29. The firm has a market cap of $31.00 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 3.10 and a beta of 0.99. The business’s fifty day moving average is $219.26 and its 200-day moving average is $222.82.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. Sell-side analysts expect that AvalonBay Communities will post 11.48 EPS for the current fiscal year.

Institutional Investors Weigh In On AvalonBay Communities

A number of institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its holdings in AvalonBay Communities by 4.7% in the third quarter. Creative Planning now owns 9,004 shares of the real estate investment trust’s stock valued at $2,028,000 after acquiring an additional 408 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of AvalonBay Communities by 3.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,776 shares of the real estate investment trust’s stock valued at $1,752,000 after purchasing an additional 263 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of AvalonBay Communities by 147.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 721 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 430 shares during the period. Foundations Investment Advisors LLC bought a new position in AvalonBay Communities during the third quarter worth $210,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in AvalonBay Communities by 6.3% in the third quarter. Sequoia Financial Advisors LLC now owns 2,321 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 138 shares during the period. Institutional investors own 92.61% of the company’s stock.

About AvalonBay Communities

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.