JPMorgan Chase & Co. Issues Pessimistic Forecast for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its target price cut by JPMorgan Chase & Co. from $251.00 to $249.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.63% from the stock’s previous close.

Other research analysts have also issued reports about the company. Wall Street Zen lowered AvalonBay Communities from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Scotiabank cut their price objective on AvalonBay Communities from $251.00 to $236.00 and set a “sector perform” rating for the company in a research report on Friday, June 13th. Mizuho reduced their price objective on shares of AvalonBay Communities from $238.00 to $213.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Piper Sandler lowered their target price on shares of AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Barclays lifted their price target on shares of AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $235.86.

AvalonBay Communities Stock Up 0.1%

Shares of NYSE:AVB opened at $206.41 on Tuesday. AvalonBay Communities has a 52-week low of $180.40 and a 52-week high of $239.29. The stock has a market cap of $29.39 billion, a P/E ratio of 25.71, a PEG ratio of 2.81 and a beta of 0.86. The business has a fifty day moving average of $204.82 and a two-hundred day moving average of $212.86. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 38.86% and a return on equity of 9.65%. The firm had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. During the same quarter in the prior year, the firm posted $2.70 earnings per share. On average, research analysts expect that AvalonBay Communities will post 11.48 earnings per share for the current year.

Insider Transactions at AvalonBay Communities

In related news, EVP Edward M. Schulman sold 5,945 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president now owns 17,617 shares in the company, valued at $3,623,288.39. This trade represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin P. O’shea sold 6,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $207.57, for a total value of $1,245,420.00. Following the completion of the sale, the chief financial officer now directly owns 22,782 shares of the company’s stock, valued at $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its stake in shares of AvalonBay Communities by 10.2% in the 4th quarter. Empowered Funds LLC now owns 2,575 shares of the real estate investment trust’s stock valued at $566,000 after purchasing an additional 238 shares during the last quarter. Savant Capital LLC increased its stake in AvalonBay Communities by 8.7% in the 4th quarter. Savant Capital LLC now owns 1,264 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 101 shares during the period. Principal Securities Inc. raised its position in AvalonBay Communities by 8.8% during the 4th quarter. Principal Securities Inc. now owns 916 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 74 shares during the last quarter. Allworth Financial LP lifted its stake in shares of AvalonBay Communities by 47.8% in the 4th quarter. Allworth Financial LP now owns 761 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 246 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of AvalonBay Communities by 4.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 84,050 shares of the real estate investment trust’s stock valued at $18,488,000 after acquiring an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

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.