Piper Sandler Issues Pessimistic Forecast for AvalonBay Communities (NYSE:AVB) Stock Price

AvalonBay Communities (NYSE:AVB) had its price target lowered by stock 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 target price suggests a potential upside of 21.63% from the company’s current price.

AVB has been the subject of several other research reports. Scotiabank dropped their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada lifted their price target on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Mizuho raised AvalonBay Communities from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Evercore ISI boosted their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a research note on Monday. Finally, Morgan Stanley lowered AvalonBay Communities from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $235.73.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $217.88 on Tuesday. AvalonBay Communities has a 52 week low of $169.37 and a 52 week high of $239.29. The business has a 50-day simple moving average of $220.08 and a 200 day simple moving average of $222.47. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. The stock has a market cap of $30.99 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 3.10 and a beta of 0.99.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results 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, research analysts forecast that AvalonBay Communities will post 11.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Segment Wealth Management LLC raised its position in AvalonBay Communities by 4.6% during the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 45 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its position in AvalonBay Communities by 4.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 50 shares during the last quarter. Tectonic Advisors LLC grew its holdings in shares of AvalonBay Communities by 2.7% during the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 50 shares during the period. OneDigital Investment Advisors LLC grew its holdings in shares of AvalonBay Communities by 4.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 55 shares during the period. Finally, Wedmont Private Capital grew its holdings in shares of AvalonBay Communities by 5.3% during the 4th quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 55 shares during the period. 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.