AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,985,475 shares of the real estate investment trust’s stock after buying an additional 4,800 shares during the period. Canada Pension Plan Investment Board owned about 1.40% of AvalonBay Communities worth $410,775,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. &PARTNERS acquired a new position in shares of AvalonBay Communities in the 2nd quarter valued at about $1,538,000. Lasalle Investment Management Securities LLC lifted its position in AvalonBay Communities by 3.1% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after purchasing an additional 18,320 shares during the last quarter. GSI Capital Advisors LLC lifted its position in AvalonBay Communities by 21.3% in the 4th quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock valued at $9,506,000 after purchasing an additional 8,925 shares during the last quarter. Hsbc Holdings PLC lifted its position in AvalonBay Communities by 9.2% in the 4th quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock valued at $84,890,000 after purchasing an additional 38,235 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new stake in AvalonBay Communities in the 1st quarter valued at about $768,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Monday, August 5th. The shares were 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 of the company’s stock, valued at $13,780,506.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities 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 transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 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 disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AVB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Mizuho lifted their price objective on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. UBS Group lifted their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Truist Financial lifted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada boosted their price target 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $223.12.

AvalonBay Communities Stock Up 0.1 %

NYSE AVB opened at $230.55 on Friday. 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 company’s 50 day simple moving average is $216.45 and its 200 day simple moving average is $200.75. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $236.26. The company has a market capitalization of $32.78 billion, a P/E ratio of 34.31, a PEG ratio of 3.41 and a beta of 0.97.

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

About AvalonBay Communities

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.