Atlas Capital Advisors LLC Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Atlas Capital Advisors LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,476 shares of the real estate investment trust’s stock, valued at approximately $305,000.

Several other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities during the 2nd quarter valued at $32,000. Versant Capital Management Inc grew its holdings in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities during the first quarter valued at approximately $39,000. Pinnacle Bancorp Inc. lifted its holdings in shares of AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Transactions at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities 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 transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Keri A. Shea sold 2,000 shares of the firm’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 sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction on 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 transaction, 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. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank lifted their price objective on AvalonBay Communities from $218.00 to $229.00 and gave the company a “sector perform” rating in a research note on Monday. UBS Group raised their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada lifted their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Finally, Mizuho boosted their price objective on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $214.47.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock traded up $2.58 during trading hours on Friday, reaching $225.73. 801,662 shares of the stock traded hands, compared to its average volume of 716,186. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $226.18. The firm has a market capitalization of $32.10 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 3.09 and a beta of 0.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average price of $209.00 and a 200 day moving average price of $195.23.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data 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). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same period in the previous year, the business posted $2.66 EPS. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current fiscal year.

AvalonBay Communities 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.