AvalonBay Communities Inc (NYSE:AVB) has been upgraded to Buy in a statement by Evercore ISI earlier today.
- Updated: November 28, 2016
Evercore ISI has upgraded AvalonBay Communities Inc (NYSE:AVB) to Buy in a statement released on 11/28/2016.
Boasting a price of $160.90, AvalonBay Communities Inc (NYSE:AVB) traded 0.29% higher on the day. With the last stock price close down -8.50% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.03% over the date range. AvalonBay Communities Inc has recorded a 50-day average of $167.34 and a two hundred day average of $175.85. Volume of trade was down over the average, with 425,551 shares of AVB changing hands under the typical 834,845
With a total market value of $0, AvalonBay Communities Inc has price-earnings ratio of 23.34 with a one year low of $158.32 and a one year high of $192.29 .
In addition to Evercore ISI reporting its stock price target, a total of 22 brokers have issued a research note on the company. The average stock price target is $195.23 with 5 brokers rating the stock a strong buy, 9 brokers rating the stock a buy, 9 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.
General Information About AvalonBay Communities Inc (NYSE:AVB)
AvalonBay Communities, Inc. is a real estate investment trust. The Company focuses on the development, redevelopment, acquisition, ownership and operation of 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 operates through segments, which include Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. It owns or holds an interest in approximately 260 operating apartment communities containing over 75,380 apartment homes in approximately 10 states and the District of Columbia, of which over 10 communities containing approximately 3,430 apartment homes are under reconstruction. It operates its apartment communities under three core brands: Avalon, AVA and Eaves by Avalon. The real estate investments consist of operating apartment communities, communities in various stages of development and Development Rights.
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