AvalonBay Stock Hits New 52-Week High (AVB)

NEW YORK ( TheStreet) -- AvalonBay Communities (NYSE: AVB) hit a new 52-week high Friday as it is currently trading at $140.74, above its previous 52-week high of $140.61 with 219,317 shares traded as of 11:15 a.m. ET. Average volume has been 743,800 shares over the past 30 days.

AvalonBay has a market cap of $12.47 billion and is part of the financial sector and real estate industry. Shares are up 6.2% year to date as of the close of trading on Thursday.

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 75, below the average real estate industry P/E ratio of 80 and above the S&P 500 P/E ratio of 17.7.

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 expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full AvalonBay Ratings Report.

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