AvalonBay Communities (NYSE:AVB) Given New $265.00 Price Target at Piper Sandler

AvalonBay Communities (NYSE:AVB) had its price objective cut by investment analysts at Piper Sandler from $270.00 to $265.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target indicates a potential upside of 20.83% from the stock’s current price.

Several other analysts have also recently commented on the stock. Evercore ISI raised their price objective on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research note on Monday. JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Mizuho upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $239.00 to $242.00 in a report on Monday, January 6th. Royal Bank of Canada lifted their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Scotiabank decreased their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $235.73.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $219.32 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $220.50 and a 200-day simple moving average of $222.27. The company has a market cap of $31.20 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 3.10 and a beta of 0.99. AvalonBay Communities has a 12-month low of $169.37 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. On average, equities analysts forecast that AvalonBay Communities will post 11.53 EPS for the current year.

Insider Activity

In other news, Director Timothy J. Naughton sold 23,697 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On AvalonBay Communities

Several large investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new position in shares of AvalonBay Communities during the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $36,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities during the third quarter worth approximately $39,000. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the third quarter worth approximately $51,000. Finally, Generali Asset Management SPA SGR acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $66,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

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.