AvalonBay Communities (NYSE:AVB – Get Free Report)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Mizuho in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $199.00 target price on the real estate investment trust’s stock, down from their prior target price of $213.00. Mizuho’s target price would suggest a potential upside of 4.63% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $200.00 target price (down from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Barclays decreased their price target on shares of AvalonBay Communities from $241.00 to $228.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Evercore ISI decreased their price target on shares of AvalonBay Communities from $216.00 to $212.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, UBS Group decreased their price target on shares of AvalonBay Communities from $238.00 to $216.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $225.64.
AvalonBay Communities Trading Up 0.5%
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.02. The business had revenue of $689.90 million for the quarter, compared to the consensus estimate of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same period last year, the firm posted $2.77 earnings per share. Sell-side analysts forecast that AvalonBay Communities will post 11.48 earnings per share for the current fiscal year.
Insider Activity at AvalonBay Communities
In other news, CFO Kevin P. O’shea sold 6,000 shares of the firm’s 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 transaction, the chief financial officer owned 22,782 shares in the company, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the executive vice president owned 17,617 shares in the company, valued at $3,623,288.39. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Proathlete Wealth Management LLC bought a new stake in AvalonBay Communities in the first quarter valued at $29,000. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities in the first quarter valued at $33,000. Ancora Advisors LLC boosted its holdings in AvalonBay Communities by 1,666.7% in the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 150 shares in the last quarter. Clearstead Trust LLC boosted its holdings in AvalonBay Communities by 62.0% in the second quarter. Clearstead Trust LLC now owns 162 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in AvalonBay Communities by 76.4% in the second quarter. Sound Income Strategies LLC now owns 187 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 81 shares in the last quarter. 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.
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