Avalonbay Communities Inc. (NYSE:AVB) saw a downside of -1.04% to close Friday at $177.64 after subtracting -$1.87 on the day. The 5-day average trading volume is 558,980 shares of the company’s common stock. It has gained $184.07 in the past week and touched a new high 1 time within the past 5 days. An average of 589,340 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 638,096.
AVB’s 1-month performance is -1.67% or -$0.05 on its low of $177.39 reached on 09/22/23. The company’s shares have touched a 52-week low of $153.07 and high of $198.65, with the stock’s rally to the 52-week high happening on 07/24/23. YTD, AVB has achieved 9.98% or $16.12 and has reached a new high 20 times. However, the current price is down -10.58% from the 52-week high price.
Insider Transactions
AVB stock investors last saw insider trading activity on Aug 11.Lockridge Joanne M (Executive Vice President) most recently sold 3,331 shares at $186.25 per share on Aug 11. This transaction cost the insider $620,399. Chief Investment Officer, Birenbaum Matthew H., sold 4,000 shares at a price of $176.10 on May 22.
Valuation Metrics
AVB stock has a beta of 0.93. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 9.15 while the price-to-book (PB) in the most recent quarter is 2.14, with the price to cash flow ratio at 18.13.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.67, while the total debt to equity was 0.70. In terms of profitability, the gross margin trailing 12 months is 35.68%. The firm’s gross profit as reported stood at $537.0 million against revenue of $2.59 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 62.3% to $367.92 million, while revenue of $146.9 million was 60.07% off the previous quarter. Analysts expected AVB to announce $1.49 per share in earnings in its latest quarter, but it posted $2.59, representing a 73.80% surprise. EBITDA for the quarter stood at more than $385.82 million. Shareholders hold equity totaling $142.02 million.
Let’s look briefly at Avalonbay Communities Inc. (AVB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 36.49% to suggest the stock is trending Neutral, with historical volatility in this time period at 17.11%.
The stock’s 5-day moving average is $180.61, reflecting a -3.40% or -$6.25 change from its current price. AVB is currently trading -1.78% above its 20-day SMA, -2.22% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -9.24% and SMA200 by+4.31%.
Stochastic %K and %D was 32.19% and 44.09% and the average true range (ATR) pointed at 2.95. The RSI (14) points at 39.71%, while the 14-day stochastic is at 3.50% with the period’s ATR at 3.03. The stock’s 9-day MACD Oscillator is pointing at -1.32 and -0.81 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Avalonbay Communities Inc. (NYSE: AVB), Colliers Securities upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for AVB stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate AVB as a “sell,”, while 11 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 9 have offered a “buy” rating.
What is AVB’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $190.00 and a high of $229.00, with their median price target at $200.00. Looking at these predictions, the average price target given by analysts is for Avalonbay Communities Inc. (AVB) stock is $201.79.
