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AvalonBay (AVB) Receives a Buy from Bank of America Securities

Tipranks - Wed Jul 8, 4:54AM CDT

In a report released yesterday, Jana Galan from Bank of America Securities reiterated a Buy rating on AvalonBay, with a price target of $213.00. The company’s shares closed yesterday at $194.35.

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Galan covers the Real Estate sector, focusing on stocks such as AvalonBay, Equity Residential, and Sun Communities. According to TipRanks, Galan has an average return of -2.5% and a 59.26% success rate on recommended stocks.

Currently, the analyst consensus on AvalonBay is a Moderate Buy with an average price target of $195.07, implying a 0.37% upside from current levels. In a report released on June 22, Truist Financial also maintained a Buy rating on the stock with a $202.00 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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