Barclays Cuts AvalonBay Communities (NYSE:AVB) Price Target to $230.00

AvalonBay Communities (NYSE:AVB) had its price target reduced by analysts at Barclays from $243.00 to $230.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 7.62% from the stock’s previous close.

Several other brokerages have also issued reports on AVB. Royal Bank of Canada dropped their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $247.00 to $262.00 in a research report on Tuesday, December 17th. Scotiabank decreased their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Mizuho upgraded shares of 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. Finally, Morgan Stanley lowered 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 report on Friday. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $234.60.

AvalonBay Communities Stock Performance

NYSE AVB opened at $213.72 on Friday. The company has a market cap of $30.40 billion, a P/E ratio of 29.24, a P/E/G ratio of 3.05 and a beta of 0.99. The business’s 50 day moving average price is $223.59 and its 200-day moving average price is $220.99. AvalonBay Communities has a fifty-two week low of $169.37 and a fifty-two week high of $239.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the prior year, the company posted $2.66 EPS. Sell-side analysts predict that AvalonBay Communities will post 11.04 earnings per share for the current year.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 2,261 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by insiders.

Institutional Investors Weigh In On AvalonBay Communities

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in AvalonBay Communities in the third quarter worth $26,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities during the 3rd quarter worth $39,000. Mather Group LLC. increased its position in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities during the 3rd quarter valued at about $51,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in AvalonBay Communities by 59.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 478 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 179 shares during the last quarter. Hedge funds and other 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.