AvalonBay Stock Hits New 52-Week High (AVB)

NEW YORK (TheStreet) -- AvalonBay Communities (NYSE:AVB) hit a new 52-week high Monday as it is currently trading at $149.45, above its previous 52-week high of $149.39 with 90,185 shares traded as of 10:35 a.m. ET. Average volume has been 646,200 shares over the past 30 days.

AvalonBay has a market cap of $13.95 billion and is part of the financial sector and real estate industry. Shares are up 12% year to date as of the close of trading on Friday.

AvalonBay Communities, Inc. engages in the development, redevelopment, acquisition, ownership, and operation of multifamily communities in the United States. The company has a P/E ratio of 70.7, above the average real estate industry P/E ratio of 28.6 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates AvalonBay as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full AvalonBay Ratings Report.

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