Avalon Trust Co Trims Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Avalon Trust Co reduced its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,730 shares of the real estate investment trust’s stock after selling 675 shares during the period. AvalonBay Communities accounts for about 1.2% of Avalon Trust Co’s investment portfolio, making the stock its 29th largest holding. Avalon Trust Co’s holdings in AvalonBay Communities were worth $13,242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVB. Raymond James Financial Services Advisors Inc. lifted its stake in shares of AvalonBay Communities by 6.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,123 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 190 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AvalonBay Communities by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 1,114,611 shares of the real estate investment trust’s stock valued at $191,423,000 after purchasing an additional 9,223 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of AvalonBay Communities by 6.2% during the third quarter. Brown Advisory Inc. now owns 15,170 shares of the real estate investment trust’s stock valued at $2,605,000 after buying an additional 880 shares during the last quarter. Lindbrook Capital LLC increased its holdings in AvalonBay Communities by 53.7% in the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 109 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AvalonBay Communities by 1.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,340 shares of the real estate investment trust’s stock worth $14,141,000 after buying an additional 922 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $191.00 price target on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Piper Sandler boosted their price target on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Mizuho lowered their price objective on shares of AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Truist Financial reduced their target price on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of AvalonBay Communities in a research note on Tuesday, January 30th. They set a “buy” rating and a $206.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.50.

AvalonBay Communities Trading Up 0.2 %

AVB stock traded up $0.36 during midday trading on Friday, reaching $192.81. The company’s stock had a trading volume of 573,069 shares, compared to its average volume of 818,481. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $198.65. The stock has a fifty day simple moving average of $183.72 and a two-hundred day simple moving average of $179.03. The firm has a market capitalization of $27.41 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The business had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. During the same period in the prior year, the business posted $2.57 EPS. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 10.85 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the sale, the executive vice president now owns 21,907 shares of the company’s stock, valued at $4,054,985.70. 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.