Upgrade Alert for AvalonBay Communities (AVB)
AvalonBay Communities (NYSE:AVB) was upgraded from Hold to Buy at Sandler O'Neill today. The stock closed yesterday at $178.83 on volume of 902,000 shares, above average daily volume of 698,000.
AvalonBay Communities has overhead space with shares priced $178.83, or 7.2% below the average consensus analyst price target of $192.75. AvalonBay Communities shares should encounter resistance at the 50-day moving average (MA) of $182.94 and support at its 200-day MA of $176.55.
AvalonBay Communities share prices have moved between a 52-week high of $192.29 and a 52-week low of $158.72 and closed yesterday at 13% above that low price at $178.83 per share. The 200-day and 50-day moving averages have moved 0.16% higher and 0.58% higher over the past week, respectively.
AvalonBay Communities, Inc. is a self-managed, fully-integrated multi-family real estate investment trust. The Company focuses on the ownership and operation of institutional-quality apartment communities in high barrier-to-entry markets of the United States. The markets are located in Northern and South California and in the Mid-Atlantic, Northeast, Midwest and Pacific Northwest region.
SmarTrend is tracking the current trend status for AvalonBay Communities and will alert subscribers who have AVB in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades avalonbay communities