Amalgamated Bank Decreases Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Amalgamated Bank decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,473 shares of the real estate investment trust’s stock after selling 529 shares during the period. Amalgamated Bank’s holdings in AvalonBay Communities were worth $6,641,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in AvalonBay Communities by 6.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,123 shares of the real estate investment trust’s stock valued at $536,000 after acquiring an additional 190 shares during the period. Bank of New York Mellon Corp raised its stake in AvalonBay Communities by 0.8% during the 3rd 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 buying an additional 9,223 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of AvalonBay Communities by 6.2% during the 3rd 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 period. Lindbrook Capital LLC increased its position in AvalonBay Communities by 53.7% during the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 109 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AvalonBay Communities by 1.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,340 shares of the real estate investment trust’s stock worth $14,141,000 after purchasing an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.2 %

Shares of NYSE AVB opened at $192.81 on Monday. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $198.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50 day moving average is $184.06 and its two-hundred day moving average is $179.15. The stock has a market capitalization of $27.41 billion, a P/E ratio of 28.69, a PEG ratio of 3.28 and a beta of 0.90.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The company had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same quarter last year, the firm posted $2.57 EPS. As a group, research analysts expect that AvalonBay Communities, Inc. will post 10.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVB. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price objective for the company. Barclays increased their target price on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $191.00 price objective on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Truist Financial decreased their price objective on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a research report on Tuesday, April 9th. Finally, Argus increased their price target on AvalonBay Communities from $188.00 to $212.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $200.50.

Insider Buying and Selling at AvalonBay Communities

In related news, 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 completion of the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares in the company, valued at approximately $4,054,985.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 31,308 shares in the company, valued at approximately $5,812,330.20. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

About AvalonBay Communities

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.