AvalonBay Gets a Hold Rating from Jefferies

By Ryan Adsit

Jefferies analyst Omotayo Okusanya reiterated a Hold rating on AvalonBay (NYSE: AVB) today and set a price target of $166. The company’s shares opened today at $166.53.

According to TipRanks.com, Okusanya is a 4-star analyst with an average return of 7.0% and a 58.3% success rate. Okusanya covers the Financial sector, focusing on stocks such as Senior Housing Properties Trust, Physicians Realty Trust, and Mid-America Apartment.

AvalonBay has an analyst consensus of Moderate Buy, with a price target consensus of $183.18.

AvalonBay’s market cap is currently $22.81B and has a P/E ratio of 25.97. The company has a book value ratio of 2.1961.

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AvalonBay Communities, Inc. is a real estate investment trust, which engages in the development, redevelopment, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.