Edgestream Partners L.P. Grows Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Edgestream Partners L.P. boosted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 64.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,505 shares of the real estate investment trust’s stock after purchasing an additional 6,869 shares during the quarter. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $3,622,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Private Advisor Group LLC increased its position in AvalonBay Communities by 12.0% during the fourth quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $380,000 after acquiring an additional 217 shares during the last quarter. Jump Financial LLC increased its position in AvalonBay Communities by 53.3% during the fourth quarter. Jump Financial LLC now owns 3,680 shares of the real estate investment trust’s stock valued at $689,000 after acquiring an additional 1,280 shares during the last quarter. Brown Advisory Inc. increased its position in AvalonBay Communities by 4.0% during the fourth quarter. Brown Advisory Inc. now owns 15,771 shares of the real estate investment trust’s stock valued at $2,953,000 after acquiring an additional 601 shares during the last quarter. ING Groep NV increased its position in AvalonBay Communities by 9.0% during the fourth quarter. ING Groep NV now owns 19,442 shares of the real estate investment trust’s stock valued at $3,640,000 after acquiring an additional 1,613 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in AvalonBay Communities by 25.9% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 3,261 shares of the real estate investment trust’s stock valued at $610,000 after acquiring an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AVB shares. Piper Sandler boosted their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Mizuho upped their price target 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. JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group raised their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company raised their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $223.12.

AvalonBay Communities Stock Down 0.9 %

AVB stock opened at $230.79 on Wednesday. The firm has a 50 day moving average of $215.37 and a 200 day moving average of $200.33. The stock has a market capitalization of $32.82 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter last year, the business earned $2.66 earnings per share. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

Insider Buying and Selling

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred 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 directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

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.