AvalonBay (AVB) Gets a Buy from Bank of America Securities
Bank of America Securities analyst Jana Galan maintained a Buy rating on AvalonBay on December 19 and set a price target of $216.00. The company’s shares closed last Friday at $179.13.
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According to TipRanks, Galan is an analyst with an average return of -2.5% and a 37.93% success rate. Galan covers the Real Estate sector, focusing on stocks such as Kilroy Realty, Mid-America Apartment, and Agree Realty.
Currently, the analyst consensus on AvalonBay is a Moderate Buy with an average price target of $202.40, representing a 12.99% upside. In a report released today, Morgan Stanley also maintained a Buy rating on the stock with a $222.50 price target.
Based on AvalonBay’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $764.93 million and a net profit of $381.31 million. In comparison, last year the company earned a revenue of $734.31 million and had a net profit of $372.52 million
Based on the recent corporate insider activity of 59 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. Earlier this month, Sean Thomas Willson, the SVP of AVB sold 150.00 shares for a total of $27,039.00.
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