DekaBank Deutsche Girozentrale Has $22.66 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

DekaBank Deutsche Girozentrale lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.7% during the second quarter, Holdings Channel.com reports. The firm owned 111,107 shares of the real estate investment trust’s stock after purchasing an additional 10,773 shares during the period. DekaBank Deutsche Girozentrale’s holdings in AvalonBay Communities were worth $22,664,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of AvalonBay Communities in the fourth quarter worth approximately $1,271,756,000. Cbre Investment Management Listed Real Assets LLC raised its position in AvalonBay Communities by 70.8% in 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 during the last quarter. Daiwa Securities Group Inc. lifted its stake in AvalonBay Communities by 487.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after acquiring an additional 298,322 shares in the last quarter. Heitman Real Estate Securities LLC boosted its holdings in 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 worth $65,734,000 after acquiring an additional 264,923 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after acquiring an additional 249,400 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of AvalonBay Communities from $223.00 to $225.00 and gave the stock an “in-line” rating in a report on Monday, September 9th. Royal Bank of Canada upped their target price on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Finally, Wells Fargo & Company boosted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $219.94.

AvalonBay Communities Stock Up 1.3 %

AVB opened at $234.75 on Friday. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $234.80. The company has a market cap of $33.38 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $214.23 and a 200 day moving average of $199.40.

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). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The company had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. During the same period in the previous year, the business earned $2.66 earnings per share. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

Insider Buying and Selling at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction on 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.

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.