SunTrust Robinson analyst Michael R Lewis reiterated a Buy rating on AvalonBay (NYSE: AVB) yesterday and set a price target of $194. The company’s shares closed yesterday at $180.21.
According to TipRanks.com, Lewis is a 4-star analyst with an average return of 6.3% and a 70.7% success rate. Lewis covers the Financial sector, focusing on stocks such as Washington Real Estate Investment Trust, Apartment Investment & Management, and Easterly Government Properties.
Currently, the analyst consensus on AvalonBay is a Moderate Buy with an average price target of $188.22, implying a 4.4% 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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AvalonBay’s market cap is currently $24.89B and has a P/E ratio of 28.56. The company has a Price to Book ratio of 2.40.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock.
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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.
