AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 69.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,095 shares of the real estate investment trust’s stock after purchasing an additional 2,085 shares during the period. Beverly Hills Private Wealth LLC’s holdings in AvalonBay Communities were worth $1,054,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVB. Norges Bank bought a new position in AvalonBay Communities during the 4th quarter worth $1,271,756,000. Cbre Investment Management Listed Real Assets LLC raised its position in shares of AvalonBay Communities by 70.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock worth $156,354,000 after purchasing an additional 346,214 shares during the period. Daiwa Securities Group Inc. lifted its stake in AvalonBay Communities by 487.8% during the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after buying an additional 298,322 shares in the last quarter. Heitman Real Estate Securities LLC boosted its stake in AvalonBay Communities by 307.4% in the 4th quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock worth $65,734,000 after purchasing an additional 264,923 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of AvalonBay Communities by 14.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after purchasing an additional 249,400 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred 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 owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVB shares. Wells Fargo & Company increased their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their price objective on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Royal Bank of Canada increased their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Piper Sandler boosted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $218.94.

AvalonBay Communities Stock Up 0.3 %

Shares of AVB stock opened at $229.95 on Thursday. The firm has a market capitalization of $32.70 billion, a P/E ratio of 34.22, a PEG ratio of 3.03 and a beta of 0.97. The firm’s fifty day moving average price is $212.99 and its two-hundred day moving average price is $198.57. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $230.31.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period last year, the firm earned $2.66 EPS. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11 EPS for the current fiscal year.

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.