Mizuho Securities analyst Richard Anderson reiterated a Buy rating on AvalonBay (NYSE: AVB) yesterday and set a price target of $212. The company’s shares closed on Friday at $180.08.
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 6.3% and a 73.3% success rate. Anderson covers the Financial sector, focusing on stocks such as Apartment Investment & Management, First Industrial Realty Trust, and Hudson Pacific Properties.
AvalonBay has an analyst consensus of Moderate Buy, with a price target consensus of $187.50, a 4.1% upside from current levels. In a report issued on August 2, Stifel Nicolaus also maintained a Buy rating on the stock with a $195 price target.
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Based on AvalonBay’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $255 million. In comparison, last year the company had a net profit of $165 million.
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AvalonBay Communities, Inc. is a real estate investment trust, which engages in the development, redevelopment, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.
