Wells Fargo Keeps Their Buy Rating on AvalonBay (AVB)
In a report released today, James Feldman from Wells Fargo maintained a Buy rating on AvalonBay, with a price target of $193.00.
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Feldman covers the Real Estate sector, focusing on stocks such as AvalonBay, Diamondrock, and Hudson Pacific Properties. According to TipRanks, Feldman has an average return of -0.3% and a 47.42% success rate on recommended stocks.
In addition to Wells Fargo, AvalonBay also received a Buy from Truist Financial’s Michael Lewis in a report issued on January 20. However, on the same day, Deutsche Bank downgraded AvalonBay (NYSE: AVB) to a Hold.
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 54 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. Last month, Sean Thomas Willson, the SVP of AVB sold 150.00 shares for a total of $27,039.00.
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