AvalonBay Communities Inc. (NYSE:AVB) traded at a new 52-week high today of $226.67. Approximately 156,000 shares have changed hands today, as compared to an average 30-day volume of 835,000 shares.
AvalonBay Communities owns a portfolio of 275 apartment communities with over 75,000 units and is developing 22 additional properties with over 7,500 units. The company focuses on owning large, high-quality properties in major metropolitan areas of New England, New York/New Jersey, Washington D.C., California, and the Pacific Northwest.
Potential upside of 1.7% exists for AvalonBay Communities Inc., based on a current level of $226.57 and analysts’ average consensus price target of $230.50.
Over the past year, AvalonBay Communities Inc. has traded in a range of $131.38 to $226.67 and is now at $226.57, 72% above that low.
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