AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 30.5% during the second quarter, Holdings Channel reports. The institutional investor owned 2,047 shares of the real estate investment trust’s stock after buying an additional 478 shares during the period. Benjamin Edwards Inc.’s holdings in AvalonBay Communities were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. SYSTM Wealth Solutions LLC increased its holdings in shares of AvalonBay Communities by 2.7% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after acquiring an additional 49 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in AvalonBay Communities by 4.6% during the second quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 59 shares in the last quarter. Mechanics Bank Trust Department boosted 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 valued at $3,710,000 after buying an additional 60 shares in the last quarter. SVB Wealth LLC grew its position 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 valued at $1,026,000 after buying an additional 62 shares during the last quarter. Finally, West Coast Financial LLC raised its stake in AvalonBay Communities by 3.9% during 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 in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s 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 sale, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction dated Monday, August 5th. The shares were 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 owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of the company’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 completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVB. Evercore ISI upped their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Truist Financial boosted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Royal Bank of Canada raised their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $223.12.

AvalonBay Communities Trading Down 0.3 %

Shares of AVB stock opened at $229.90 on Friday. The business’s fifty day moving average price is $217.02 and its 200 day moving average price is $201.06. The firm has a market capitalization of $32.69 billion, a PE ratio of 34.21, a P/E/G ratio of 3.41 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 1-year low of $160.45 and a 1-year high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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 analysts’ expectations 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 in the prior year, the business earned $2.66 EPS. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.01 EPS 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.