Truist Financial analyst Michael Lewis maintained a Hold rating on AvalonBay (AVB – Research Report) today. The company’s shares closed yesterday at $191.32.
According to TipRanks, Lewis is a 4-star analyst with an average return of 6.8% and a 58.41% success rate. Lewis covers the Real Estate sector, focusing on stocks such as AvalonBay, Highwoods Properties, and Cousins Properties.
Currently, the analyst consensus on AvalonBay is a Moderate Buy with an average price target of $195.54, which is a 2.21% upside from current levels. In a report released today, Scotiabank also maintained a Hold rating on the stock with a $193.00 price target.
The company has a one-year high of $193.21 and a one-year low of $157.56. Currently, AvalonBay has an average volume of 791.8K.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVB in relation to earlier this year.
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AvalonBay (AVB) Company Description:
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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities. The Established Communities segment refers to the operating communities that were owned and had stabilized occupancy. The Other Stabilized Communities segment includes all other completed communities that have stabilized occupancy. The Development or Redevelopment Communities segment consists of communities that are under construction. The company was founded by Gilbert M. Meyer in 1978 and is headquartered in Arlington, VA.
