Tredje AP fonden Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

Tredje AP fonden bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 22,041 shares of the real estate investment trust’s stock, valued at approximately $4,560,000.

Several other large investors have also recently added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of AvalonBay Communities by 10.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,836 shares of the real estate investment trust’s stock valued at $794,000 after acquiring an additional 359 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its position in shares of AvalonBay Communities by 2.7% in the second 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 last quarter. L & S Advisors Inc purchased a new stake in AvalonBay Communities in the second quarter valued at approximately $7,388,000. Sargent Investment Group LLC acquired a new position in AvalonBay Communities during the second quarter worth approximately $212,000. Finally, Edgestream Partners L.P. raised its stake in AvalonBay Communities by 64.6% during the second quarter. Edgestream Partners L.P. now owns 17,505 shares of the real estate investment trust’s stock worth $3,622,000 after purchasing an additional 6,869 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $230.41 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $32.76 billion, a PE ratio of 34.29, a P/E/G ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26. The business’s fifty day moving average price is $215.90 and its two-hundred day moving average price is $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 for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same period last year, the business earned $2.66 EPS. On average, research analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

Insider Activity

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

Analyst Ratings Changes

AVB has been the subject of several research reports. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Piper Sandler boosted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.