Hsbc Holdings PLC Has $103.66 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Hsbc Holdings PLC cut its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 502,248 shares of the real estate investment trust’s stock after selling 32,571 shares during the period. Hsbc Holdings PLC owned 0.35% of AvalonBay Communities worth $103,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SYSTM Wealth Solutions LLC boosted its stake in shares of AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 49 shares during the period. Checchi Capital Advisers LLC boosted its position in AvalonBay Communities by 4.6% during the second quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 59 shares during the period. Mechanics Bank Trust Department increased its holdings in shares of AvalonBay Communities by 0.3% in the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after purchasing an additional 60 shares during the last quarter. SVB Wealth LLC raised its position in shares of AvalonBay Communities by 1.1% in the first quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after purchasing an additional 62 shares during the period. Finally, West Coast Financial LLC lifted its stake in shares of AvalonBay Communities by 3.9% during the 1st quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 65 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Price Performance

Shares of AVB opened at $230.41 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a market cap of $32.76 billion, a PE ratio of 34.29, a PEG ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $236.26. The business has a 50-day simple moving average of $215.90 and a two-hundred day simple moving average of $200.54.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company earned $2.66 EPS. Analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AVB. Mizuho upped their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company increased their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Truist Financial raised their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $223.12.

AvalonBay Communities 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.