1,031 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,031 shares of the real estate investment trust’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in AvalonBay Communities during the 4th quarter worth $1,271,756,000. Principal Financial Group Inc. lifted its position in AvalonBay Communities by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,759,095 shares of the real estate investment trust’s stock worth $883,098,000 after acquiring an additional 109,585 shares during the period. Canada Pension Plan Investment Board lifted its position in AvalonBay Communities by 14.4% during the 1st 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 lifted its position in AvalonBay Communities by 0.5% during the 1st 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, Charles Schwab Investment Management Inc. lifted its position in AvalonBay Communities by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,513,327 shares of the real estate investment trust’s stock worth $283,325,000 after acquiring an additional 39,348 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the executive now owns 65,967 shares of the company’s stock, 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 Stock Performance

NYSE AVB opened at $223.01 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day moving average is $208.17 and its two-hundred day moving average is $194.84. The firm has a market capitalization of $31.71 billion, a P/E ratio of 33.19, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $224.23.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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 net margin of 29.61% and a return on equity of 7.16%. The firm had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period in the previous year, the firm posted $2.66 EPS. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVB. Scotiabank boosted their price objective on AvalonBay Communities from $218.00 to $229.00 and gave the company a “sector perform” rating in a report on Monday. Piper Sandler boosted their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Finally, Royal Bank of Canada lifted their price target on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $214.47.

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.