Hantz Financial Services Inc. Buys New Shares in AvalonBay Communities, Inc. (NYSE:AVB)

Hantz Financial Services Inc. purchased a new position in AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 29,336 shares of the real estate investment trust’s stock, valued at approximately $6,069,000.

Several other hedge funds have also bought and sold shares of AVB. Norges Bank purchased a new stake in AvalonBay Communities in the 4th quarter worth $1,271,756,000. Cbre Investment Management Listed Real Assets LLC raised its position in shares of AvalonBay Communities by 70.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock valued at $156,354,000 after buying an additional 346,214 shares in the last quarter. Heitman Real Estate Securities LLC raised its position in shares of AvalonBay Communities by 307.4% during the 4th quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock valued at $65,734,000 after buying an additional 264,923 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of 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 valued at $367,534,000 after buying an additional 249,400 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of AvalonBay Communities by 4,563.7% during the 1st quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after buying an additional 208,240 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Activity

In other news, SVP Keri A. Shea sold 2,000 shares of the 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 transaction, the senior vice president now directly 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 available through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the 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 sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the 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 sale, the executive now directly 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. Insiders own 0.42% of the company’s stock.

AvalonBay Communities Price Performance

NYSE AVB opened at $225.73 on Friday. 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 firm’s 50 day moving average price is $209.44 and its 200-day moving average price is $195.59. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $226.18. The company has a market cap of $32.10 billion, a PE ratio of 33.59, a P/E/G ratio of 3.09 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (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 the consensus estimate of $718.49 million. During the same quarter in the prior year, the business posted $2.66 earnings per share. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 10.97 EPS for the current fiscal year.

Analyst Ratings Changes

AVB has been the topic of several recent research reports. Scotiabank upped their target price on shares of AvalonBay Communities from $218.00 to $229.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Truist Financial upped their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Mizuho upped their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Evercore ISI upped their price target on shares of AvalonBay Communities from $216.00 to $223.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a report 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.