Forsta AP Fonden Has $6.60 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Forsta AP Fonden lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,900 shares of the real estate investment trust’s stock after selling 6,600 shares during the period. Forsta AP Fonden’s holdings in AvalonBay Communities were worth $6,600,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AVB. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities in the second quarter valued at approximately $32,000. Versant Capital Management Inc lifted its position in shares of AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON bought a new stake in shares of AvalonBay Communities in the 1st quarter valued at $39,000. Pinnacle Bancorp Inc. boosted its stake 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 valued at $42,000 after purchasing an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 73 shares during the period. Institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. UBS Group upped their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada lifted their target price on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Evercore ISI increased their price target on AvalonBay Communities from $223.00 to $225.00 and gave the stock an “in-line” rating in a report on Monday, September 9th. Finally, Piper Sandler raised their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $218.94.

AvalonBay Communities Trading Up 1.3 %

NYSE:AVB opened at $234.75 on Friday. 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 $234.80. The company has a market cap of $33.38 billion, a PE ratio of 34.93, a PEG ratio of 3.41 and a beta of 0.97. The firm has a 50-day moving average of $214.23 and a 200-day moving average of $199.23.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same period last year, the company earned $2.66 earnings per share. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Keri A. Shea sold 2,000 shares of the business’s 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 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 filing with the SEC, 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 on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now directly owns 4,383 shares in the company, 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 business’s stock in a transaction 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 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 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.