AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Wambolt & Associates LLC

Wambolt & Associates LLC grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 12.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,536 shares of the real estate investment trust’s stock after acquiring an additional 742 shares during the period. Wambolt & Associates LLC’s holdings in AvalonBay Communities were worth $1,335,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC lifted its stake in AvalonBay Communities by 69.3% during the second quarter. Beverly Hills Private Wealth LLC now owns 5,095 shares of the real estate investment trust’s stock worth $1,054,000 after purchasing an additional 2,085 shares in the last quarter. American Century Companies Inc. boosted its holdings in AvalonBay Communities by 6.2% during the 2nd quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust’s stock valued at $95,570,000 after acquiring an additional 26,859 shares during the period. AGF Management Ltd. grew its position in AvalonBay Communities by 12.7% in the 2nd quarter. AGF Management Ltd. now owns 15,068 shares of the real estate investment trust’s stock valued at $3,117,000 after acquiring an additional 1,695 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in AvalonBay Communities by 3.6% during the second quarter. Coldstream Capital Management Inc. now owns 11,340 shares of the real estate investment trust’s stock worth $2,346,000 after purchasing an additional 397 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of 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 worth $74,372,000 after purchasing an additional 298,322 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $229.95 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $212.99 and a 200 day moving average price of $198.57. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $230.31. The company has a market cap of $32.70 billion, a P/E ratio of 34.22, a PEG ratio of 3.03 and a beta of 0.97.

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 the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same period last year, the company earned $2.66 EPS. Research analysts predict that AvalonBay Communities, Inc. will post 11 earnings per share for the current year.

Insider Buying and Selling

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the executive now owns 65,967 shares of the company’s stock, 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.

Analysts Set New Price Targets

Several equities analysts have commented on AVB shares. Wells Fargo & Company raised their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Mizuho lifted their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price objective on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Deutsche Bank Aktiengesellschaft increased their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Scotiabank upped their price objective on AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $218.94.

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.