Federated Hermes Inc. Grows Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Federated Hermes Inc. increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,730 shares of the real estate investment trust’s stock after buying an additional 580 shares during the period. Federated Hermes Inc.’s holdings in AvalonBay Communities were worth $1,599,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Meeder Advisory Services Inc. grew its position in shares of AvalonBay Communities by 30.2% during the second quarter. Meeder Advisory Services Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $401,000 after purchasing an additional 449 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in AvalonBay Communities by 10.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 111,107 shares of the real estate investment trust’s stock valued at $22,664,000 after buying an additional 10,773 shares in the last quarter. Wambolt & Associates LLC grew its holdings in AvalonBay Communities by 12.8% during the 2nd quarter. Wambolt & Associates LLC now owns 6,536 shares of the real estate investment trust’s stock valued at $1,335,000 after buying an additional 742 shares in the last quarter. Beverly Hills Private Wealth LLC raised its position in shares of AvalonBay Communities by 69.3% during the second quarter. Beverly Hills Private Wealth LLC now owns 5,095 shares of the real estate investment trust’s stock valued at $1,054,000 after buying an additional 2,085 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of AvalonBay Communities by 6.2% in the second quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust’s stock worth $95,570,000 after buying an additional 26,859 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.3 %

NYSE:AVB opened at $229.90 on Friday. The company has a market cap of $32.69 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $217.02 and a 200-day simple moving average of $201.06.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $2.66 EPS. Analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

Analyst Ratings Changes

AVB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI boosted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Truist Financial increased their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. UBS Group lifted their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada increased their target price on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $223.12.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities 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 completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 transaction 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 sale was disclosed in a filing with the SEC, which is accessible 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 transaction of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

AvalonBay Communities Company 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.