Wedbush Securities Inc. Boosts Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Wedbush Securities Inc. raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,232 shares of the real estate investment trust’s stock after buying an additional 213 shares during the quarter. Wedbush Securities Inc.’s holdings in AvalonBay Communities were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in AvalonBay Communities during the second quarter worth about $32,000. Versant Capital Management Inc grew its position in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities during the first quarter worth about $39,000. Pinnacle Bancorp Inc. boosted its holdings in shares of AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the 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 transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of the 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 transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI upped their price objective on AvalonBay Communities from $223.00 to $225.00 and gave the stock an “in-line” rating in a report on Monday. Mizuho upped their price objective on AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Piper Sandler upped their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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. Finally, JPMorgan Chase & Co. upped their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $218.94.

AvalonBay Communities Trading Up 0.3 %

AVB opened at $229.95 on Thursday. The business has a 50 day simple moving average of $212.99 and a two-hundred day simple moving average of $198.57. The firm has a market capitalization of $32.70 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 3.03 and a beta of 0.97. 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, Inc. has a one year low of $160.45 and a one year high of $230.31.

AvalonBay Communities (NYSE:AVB) last released 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 business had revenue of $726.04 million for the quarter, compared to the consensus estimate 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 previous year, the company earned $2.66 EPS. Analysts predict that AvalonBay Communities, Inc. will post 11 EPS for the current year.

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.