Global X Japan Co. Ltd. Purchases Shares of 338 AvalonBay Communities, Inc. (NYSE:AVB)

Global X Japan Co. Ltd. acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 338 shares of the real estate investment trust’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. Private Advisor Group LLC increased its holdings in shares of AvalonBay Communities by 12.0% during the 4th quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock worth $380,000 after buying an additional 217 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth $137,000. Jump Financial LLC increased its holdings in shares of AvalonBay Communities by 53.3% during the 4th quarter. Jump Financial LLC now owns 3,680 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 1,280 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of AvalonBay Communities by 2.8% during the 4th quarter. QRG Capital Management Inc. now owns 5,860 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 162 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of AvalonBay Communities by 30.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,883 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 1,386 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVB has been the subject of a number of research reports. Morgan Stanley upped their price target on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Truist Financial upped their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Piper Sandler upped their price target 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. UBS Group upped their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company upped their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $217.12.

Insider Activity

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s 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 owns 65,967 shares in the company, valued at approximately $13,780,506.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the 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 sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The transaction was disclosed in a document filed with the SEC, which is available 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 sale, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $229.24 on Wednesday. The firm has a market cap of $32.59 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The firm’s 50-day simple moving average is $212.41 and its 200-day simple moving average is $198.35. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year 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 during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter last year, the company posted $2.66 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11 earnings per share for the current fiscal 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.