AvalonBay Communities (AVB) : 16 analysts are covering AvalonBay Communities (AVB) and their average rating on the stock is 2.19, which is read as a Buy. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. AvalonBay Communities (AVB) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 9 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
AvalonBay Communities (AVB) : The highest short term price target forecast on AvalonBay Communities (AVB) is $205 and the lowest target price is $179. A total of 15 equity analysts are currently covering the company. The average price of all the analysts is $191.4 with a standard deviation of $6.66.
Also, Brokerage firm Sandler ONeill upgrades its rating on AvalonBay Communities (NYSE:AVB). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on September 6, 2016.
AvalonBay Communities (NYSE:AVB): After opening at $171.06, the stock dipped to an intraday low of $170.33 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $173.34 and the buying power remained strong till the end. The stock closed at $173.28 for the day, a gain of 1.18% for the day session. The total traded volume was 857,011. The stocks close on the previous trading day was $171.26.
AvalonBay Communities, Inc. is a real estate investment trust (REIT). The Company develops, redevelops, acquires, owns and operates multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. It focuses on metropolitan areas in these regions. The Company operates in three segments: Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. It owns an ownership interest in around 252 operating apartment communities containing 74,240 apartment homes in 11 states and the District of Columbia, of which around 228 communities contain around 66,631 apartment homes; two communities containing over 618 apartment homes were held by joint ventures in which it holds an ownership interest, and approximately 22 communities contain around 6,991 apartment homes. It operates apartment communities under three core brands: Avalon, AVA and Eaves by Avalon.