Choreo LLC Purchases Shares of 2,195 AvalonBay Communities, Inc. (NYSE:AVB)

Choreo LLC purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,195 shares of the real estate investment trust’s stock, valued at approximately $450,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the second quarter valued at about $32,000. Versant Capital Management Inc boosted its position in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the first quarter valued at about $39,000. Pinnacle Bancorp Inc. raised its stake in shares of AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 73 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVB. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Scotiabank boosted their target price on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Evercore ISI boosted their target price on shares of AvalonBay Communities from $223.00 to $225.00 and gave the stock an “in-line” rating in a research note on Monday, September 9th. UBS Group boosted their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $219.94.

Insider Activity at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

AvalonBay Communities Trading Up 1.3 %

NYSE:AVB opened at $234.75 on Monday. The business’s 50-day simple moving average is $214.23 and its 200-day simple moving average is $199.56. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $234.80. The stock has a market capitalization of $33.38 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The firm had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same period in the prior year, the business posted $2.66 EPS. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.