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Barclays Remains a Buy on AvalonBay (AVB)

Tipranks - Tue May 12, 2:52AM CDT

Barclays analyst Richard Hightower maintained a Buy rating on AvalonBay today and set a price target of $203.00.

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Hightower covers the Real Estate sector, focusing on stocks such as Gaming and Leisure, Equity Residential, and AvalonBay. According to TipRanks, Hightower has an average return of -0.7% and a 51.26% success rate on recommended stocks.

In addition to Barclays, AvalonBay also received a Buy from Bank of America Securities’s Jana Galan in a report issued on May 4. However, on the same day, Cantor Fitzgerald maintained a Hold rating on AvalonBay (NYSE: AVB).

Based on AvalonBay’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $770.28 million and a net profit of $325.73 million. In comparison, last year the company earned a revenue of $745.88 million and had a net profit of $236.6 million

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