Quest Partners LLC Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Quest Partners LLC grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 52.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,006 shares of the real estate investment trust’s stock after purchasing an additional 2,744 shares during the period. Quest Partners LLC’s holdings in AvalonBay Communities were worth $1,656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its holdings in shares of AvalonBay Communities by 4.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after acquiring an additional 59 shares during the period. Mechanics Bank Trust Department grew its holdings in shares of AvalonBay Communities by 0.3% in the 2nd quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock worth $3,710,000 after acquiring an additional 60 shares during the period. SVB Wealth LLC grew its holdings in shares of AvalonBay Communities by 1.1% in the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock worth $1,026,000 after acquiring an additional 62 shares during the period. West Coast Financial LLC grew its holdings in shares of AvalonBay Communities by 3.9% in the 1st quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 65 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in shares of AvalonBay Communities by 1.1% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 6,361 shares of the real estate investment trust’s stock worth $1,180,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 0.8 %

Shares of AvalonBay Communities stock opened at $225.43 on Tuesday. The company has a market capitalization of $32.05 billion, a PE ratio of 33.55, a P/E/G ratio of 3.03 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $230.04. The business has a 50-day moving average of $211.91 and a 200-day moving average of $197.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

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 analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter last year, the business posted $2.66 earnings per share. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11 EPS for the current fiscal year.

Insider Buying and Selling

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 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s 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 completion of the transaction, 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. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVB shares. Piper Sandler upped their price target on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Scotiabank increased their price target on AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Truist Financial increased their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, UBS Group increased their price target on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $214.59.

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.