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Piper Sandler Sticks to Their Hold Rating for AvalonBay (AVB)

Tipranks - Sat May 30, 5:00AM CDT

In a report released yesterday, Alexander Goldfarb from Piper Sandler reiterated a Hold rating on AvalonBay, with a price target of $195.00. The company’s shares closed yesterday at $184.83.

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According to TipRanks, Goldfarb is a 3-star analyst with an average return of 1.8% and a 48.62% success rate. Goldfarb covers the Real Estate sector, focusing on stocks such as BXP, Equity Residential, and Vornado Realty.

AvalonBay has an analyst consensus of Moderate Buy, with a price target consensus of $194.71, a 5.35% upside from current levels. In a report released on May 21, Colliers Securities also maintained a Hold rating on the stock with a $190.00 price target.

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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