AvalonBay Communities with ticker code (AVB) have now 21 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The target price ranges between 285 and 248 and has a mean target at 267. Given that the stocks previous close was at 239.5 this now indicates there is a potential upside of 11.5%. There is a 50 day moving average of 244.6 while the 200 day moving average is 237.71. The company has a market cap of $31,806m. Company Website: https://www.avalonbay.com
The potential market cap would be $35,458m based on the market concensus.
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company’s expansion markets consisting of Southeast Florida and Denver, Colorado (the “Expansion Markets”).
