Piper Sandler analyst Alexander Goldfarb maintained a Sell rating on AvalonBay (AVB) today and set a price target of $145.00. The company’s shares closed last Friday at $153.67.
According to TipRanks.com, Goldfarb is a 4-star analyst with an average return of 2.4% and a 58.0% success rate. Goldfarb covers the Financial sector, focusing on stocks such as Hudson Pacific Properties, Urstadt Biddle Properties, and Plymouth Industrial Reit.
Currently, the analyst consensus on AvalonBay is a Moderate Buy with an average price target of $176.70.
See today’s analyst top recommended stocks >>
Based on AvalonBay’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $602 million and net profit of $168 million. In comparison, last year the company earned revenue of $566 million and had a net profit of $170 million.
Based on the recent corporate insider activity of 65 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
