Public Employees Retirement Association of Colorado Has $2.94 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Public Employees Retirement Association of Colorado lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 27.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,193 shares of the real estate investment trust’s stock after selling 5,242 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in AvalonBay Communities were worth $2,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. &PARTNERS acquired a new position in shares of AvalonBay Communities during the second quarter valued at about $1,538,000. Lasalle Investment Management Securities LLC boosted its stake in AvalonBay Communities by 3.1% during 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 increased its holdings in AvalonBay Communities by 21.3% during the 4th quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock worth $9,506,000 after purchasing an additional 8,925 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of AvalonBay Communities by 9.2% in the fourth quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock worth $84,890,000 after purchasing an additional 38,235 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new position in shares of AvalonBay Communities in the first quarter valued at approximately $768,000. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Piper Sandler increased their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Evercore ISI boosted their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. UBS Group increased their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, BNP Paribas started coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $223.12.

Insider Transactions at AvalonBay Communities

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 transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the business’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 transaction of $414,340.00. Following the completion of the transaction, 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 filing with the SEC, which is available through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the company’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 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 disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Price Performance

NYSE AVB opened at $230.06 on Monday. 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 company has a market cap of $32.71 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26. The firm’s 50-day simple moving average is $217.02 and its two-hundred day simple moving average is $201.30.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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 net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the previous year, the company posted $2.66 earnings per share. Research analysts predict that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

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.