AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 30.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,047 shares of the real estate investment trust’s stock after buying an additional 478 shares during the quarter. Benjamin Edwards Inc.’s holdings in AvalonBay Communities were worth $424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its position in AvalonBay Communities by 2.4% during the first quarter. Principal Financial Group Inc. now owns 4,759,095 shares of the real estate investment trust’s stock valued at $883,098,000 after purchasing an additional 109,585 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AvalonBay Communities by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after buying an additional 13,631 shares during the period. Canada Pension Plan Investment Board grew its holdings in AvalonBay Communities by 14.4% during the first quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after acquiring an additional 249,400 shares during the period. Clearbridge Investments LLC grew its holdings in AvalonBay Communities by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock worth $342,824,000 after acquiring an additional 8,809 shares during the period. Finally, Bank of New York Mellon Corp raised its position in AvalonBay Communities by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock valued at $244,776,000 after acquiring an additional 126,055 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Price Performance

NYSE:AVB opened at $229.90 on Friday. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26. The stock’s fifty day moving average is $217.02 and its two-hundred day moving average is $201.06. The company has a market capitalization of $32.69 billion, a P/E ratio of 34.21, a P/E/G ratio of 3.41 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71.

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

Insiders Place Their Bets

In related news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction 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 owns 4,383 shares in the company, valued at approximately $908,026.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AvalonBay Communities 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 completion of the transaction, the senior vice president now owns 4,383 shares in the company, 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 the stock in a transaction 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 completion of the sale, the executive now 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 owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AVB shares. Scotiabank boosted their target price on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. UBS Group increased 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. Royal Bank of Canada increased their price target on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.