RBC Capital Sticks to Its Hold Rating for AvalonBay (AVB)

RBC Capital analyst Brad Heffern maintained a Hold rating on AvalonBay (AVBResearch Report) on September 23 and set a price target of $210.00. The company’s shares closed yesterday at $184.19.

According to TipRanks, Heffern is a 5-star analyst with an average return of 15.8% and a 46.05% success rate.

Currently, the analyst consensus on AvalonBay is a Moderate Buy with an average price target of $226.00, which is a 22.70% upside from current levels. In a report released yesterday, Colliers Securities also maintained a Hold rating on the stock with a $239.00 price target.

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Based on AvalonBay’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $644.56 million and a net profit of $138.69 million. In comparison, last year the company earned a revenue of $561.74 million and had a net profit of $447.95 million

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AvalonBay Communities, Inc. is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities. The Established Communities segment refers to the operating communities that were owned and had stabilized occupancy. The Other Stabilized Communities segment includes all other completed communities that have stabilized occupancy. The Development or Redevelopment Communities segment consists of communities that are under construction. The company was founded by Gilbert M. Meyer in 1978 and is headquartered in Arlington, VA.

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