AvalonBay Reaches New 52-Week High (AVB)

NEW YORK ( TheStreet) -- AvalonBay Communities (NYSE: AVB) hit a new 52-week high Wednesday as it is currently trading at $145.29, above its previous 52-week high of $145.25 with 15,425 shares traded as of 9:38 a.m. ET. Average volume has been 709,200 shares over the past 30 days.

AvalonBay has a market cap of $13.64 billion and is part of the financial sector and real estate industry. Shares are up 10.7% year to date as of the close of trading on Tuesday.

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 77.8, above the average real estate industry P/E ratio of 29.4 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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