JPMorgan Chase & Co. Boosts AvalonBay Communities (NYSE:AVB) Price Target to $247.00

AvalonBay Communities (NYSE:AVB) had its target price upped by JPMorgan Chase & Co. from $212.00 to $247.00 in a report published on Monday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other analysts have also weighed in on the company. Zelman & Associates raised AvalonBay Communities to a hold rating in a report on Thursday, September 5th. Mizuho boosted their price target on AvalonBay Communities from $185.00 to $194.00 and gave the stock a neutral rating in a report on Thursday, May 30th. BNP Paribas started coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an outperform rating and a $250.00 target price for the company. Wells Fargo & Company upped their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an overweight rating in a research note on Monday, August 26th. Finally, UBS Group boosted their price target on AvalonBay Communities from $210.00 to $228.00 and gave the company a neutral rating in a research report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $223.12.

AvalonBay Communities Trading Up 0.1 %

NYSE:AVB opened at $230.55 on Monday. The stock has a market capitalization of $32.78 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 3.41 and a beta of 0.97. AvalonBay Communities has a 1 year low of $160.45 and a 1 year high of $236.26. The stock has a fifty day moving average price of $216.45 and a two-hundred day moving average price of $200.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter last year, the business earned $2.66 EPS. As a group, sell-side analysts anticipate that AvalonBay Communities will post 11.01 earnings per share for the current fiscal year.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the sale, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of AvalonBay Communities

Several hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in shares of AvalonBay Communities in the 2nd quarter worth approximately $3,701,000. Delphi Management Inc. MA lifted its holdings in shares of AvalonBay Communities by 7.3% in the 2nd quarter. Delphi Management Inc. MA now owns 8,903 shares of the real estate investment trust’s stock worth $1,842,000 after purchasing an additional 605 shares during the last quarter. Creative Planning lifted its holdings in shares of AvalonBay Communities by 24.4% in the 2nd quarter. Creative Planning now owns 8,596 shares of the real estate investment trust’s stock worth $1,778,000 after purchasing an additional 1,684 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of AvalonBay Communities by 240.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 94,884 shares of the real estate investment trust’s stock worth $19,631,000 after purchasing an additional 67,012 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. lifted its holdings in shares of AvalonBay Communities by 13.0% in the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 37,490 shares of the real estate investment trust’s stock worth $7,756,000 after purchasing an additional 4,319 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.