Does a Robert W. Baird Upgrade Make Shares of Avalonbay Communities Inc (NYSE:AVB) a ‘Buy’?


Avalonbay Communities Inc (NYSE:AVB) Stock Upgrade

Research analysts at Robert W. Baird’s equity division upgraded the rating on shares of Avalonbay Communities Inc (NYSE:AVB) from a “Neutral” to a “Outperform” earlier today. The analysts now have a $197.00 Estimated Target Price on AVB or a 13.09% upside.

From a total of 22 analysts covering Avalonbay Communities Inc. (NYSE:AVB) stock, 14 rate it a ”Buy”, 1 a “Sell”, and 10 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $210 while the lowest target price is $179. The mean of all analyst targets is $193.73 with a 11.62% above today’s ($174.76) stock price. Avalonbay Communities Inc. was the topic of 14 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on November 18 with “Buy” rating. Credit Suisse upgraded shares to “Outperform” rating and $200 target share price in a report from an August 20. Suntrust Robinson maintained AVB stock in a recent report from October 16 with “Buy” rating. SunTrust initiated the rating on July 21. SunTrust has a “Buy” rating and a $191 price target on shares. Finally, Zacks downgraded the stock to “Buy” rating in a report issued on an August 27.

Approximately 672,894 shares of stock traded hands. AvalonBay Communities Inc (NYSE:AVB) has risen 3.13% since May 8, 2015 and is uptrending. It has outperformed by 6.15% the S&P500.

The overall sentiment of institutions has increased to 1.25 in Q2 2015. Its up 0.28, from 0.97 in 2015Q2. The ratio increased, as 29 institutions have sold all the shares of AvalonBay Communities Inc that they owned while 141 funds have taken shares off the table. 45 funds have purchased shares for the first time while 168 added to their positions. These institutions now hold 143.63 million shares or 11.06% more than the 129.33 million shares they owned in 2015Q2.

The Fund Resolution Capital Ltd currently is holding shares equating to 15.23% of its total portfolio in AvalonBay Communities Inc representing a total of 1.03 million shares. Another fund,Apg Asset Management Us Inc., is holding a total of 4.78 million shares equating to 7.41% of their holdings. Additionally, Cornerstone Real Estate Advisers Llc has a 73,721 share stake in AvalonBay Communities Inc which represents 7.06% of their total portfolio. The Fund, Green Street Investors Llc, based out of California, has also built up a stake in the stock, which represents a total of 6.89% of their total portfolio. Finally Aew Capital Management L P, a fund which is based in the state of Massachusetts reported a total holdings of 1.51 million shares.

Insider activity is a very important aspect to track on any stock. Going back to May 12, 2015, shareholders of AvalonBay Communities Inc have witnessed 0 insider purchases, and a total of 4 selling transactions equating to a net activity of approximately $12.92 million . Schulman Edward M sold 1,000 shares worth approximately $177,810. Naughton Timothy J sold 11,739 shares worth approximately $2.05 million. Mclaughlin William M sold 1,000 shares worth approximately $162,080. Horey Leo S Iii sold 17,927 shares worth approximately $3.01 million. The company insider Breslin Sean J. sold 7,500 shares worth $1.25M.

AvalonBay Communities, Inc. is a real estate investment trust . The company has a market cap of $23.82 billion. The Firm develops, redevelops, acquires, owns and operates multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. It has 32.22 P/E ratio. It focuses on metropolitan areas in these regions.

According to Zacks Investment Research, “AvalonBay Communities, Inc. is a real estate investment trust. They focus on the ownership and operation of upscale apartment communities in high barrier-to-entry markets of the United States. These markets include Northern and Southern California and selected states in the Mid-Atlantic, Northeast, Midwest and Pacific Northwest regions of the country. AvalonBay is the surviving corporation from the merger of Avalon Properties, Inc. with and into Bay Apartment Communities, Inc.” Get a free copy of the Zacks research report on AvalonBay Communities Inc (AVB).