Commonwealth Equity Services LLC Acquires 1,182 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Commonwealth Equity Services LLC grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,566 shares of the real estate investment trust’s stock after acquiring an additional 1,182 shares during the quarter. Commonwealth Equity Services LLC’s holdings in AvalonBay Communities were worth $4,048,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. &PARTNERS purchased a new stake in shares of AvalonBay Communities in the second quarter worth $1,538,000. Lasalle Investment Management Securities LLC raised 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 period. GSI Capital Advisors LLC lifted its holdings in AvalonBay Communities by 21.3% in 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 boosted its stake in AvalonBay Communities by 9.2% in the 4th 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 period. Finally, Sheets Smith Wealth Management purchased a new stake in AvalonBay Communities during the 1st quarter valued at approximately $768,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Scotiabank upped their target price on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Royal Bank of Canada boosted their target price 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. Morgan Stanley raised their price target on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Finally, Truist Financial upped their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $214.59.

Insider Transactions at AvalonBay Communities

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 stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated 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 transaction, 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. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Price Performance

AVB opened at $225.43 on Tuesday. The business has a fifty day moving average of $211.91 and a 200 day moving average of $197.97. The stock has a market cap of $32.05 billion, a P/E ratio of 33.55, a PEG ratio of 3.03 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, Inc. has a 52-week low of $160.45 and a 52-week high of $230.04.

AvalonBay Communities (NYSE:AVB) last issued its earnings results 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). The company had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the prior year, the firm posted $2.66 earnings per share. As a group, sell-side analysts anticipate that AvalonBay Communities, Inc. will post 11 EPS 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.