Prudential PLC acquires 9,891 shares of AvalonBay Communities, Inc. (NYSE:AVB)

Prudential PLC grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 71.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,688 shares of the real estate investment trust’s stock after buying an additional 9,891 shares during the period. Prudential PLC’s holdings in AvalonBay Communities were worth $4,901,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. &PARTNERS bought a new position in shares of AvalonBay Communities in the second quarter valued at $1,538,000. Lasalle Investment Management Securities LLC boosted its stake in AvalonBay Communities by 3.1% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock worth $112,827,000 after bought an additional 18,320 shares in the last quarter. GSI Capital Advisors LLC boosted its holdings in shares of AvalonBay Communities by 21.3% in the 4th quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock valued at $9,506,000 after buying an additional 8,925 shares during the period. Hsbc Holdings PLC boosted its stake in AvalonBay Communities by 9.2% in the 4th quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock valued at $84,890,000 after purchasing an additional 38,235 shares during the last quarter. Finally, Sheets Smith Wealth Management purchased a new stake in AvalonBay Communities in the first quarter valued at approximately $768,000. 92.61% of shares are currently owned by institutional investors and hedge funds.

Indoor activity

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

Changes in Analyst Ratings

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Truist Financial boosted their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Scotiabank upped their price objective on shares of AvalonBay Communities from $218.00 to $229.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. UBS Group boosted their target price 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, Morgan Stanley upped their target price on shares of AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $217.12, according to MarketBeat.

Check out the latest stock analysis on AvalonBay Communities

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $229.24 on Wednesday. The stock has a fifty day moving average price of $212.41 and a two hundred day moving average price of $198.35. The firm has a market cap of $32.59 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03, and a quick ratio of 2.03. AvalonBay Communities, Inc. it has a one year low of $160.45 and a one year high of $230.04.

AvalonBay Communities (NYSE:AVB – Get Free Report ) last posted its quarterly 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). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same period last year, the firm earned $2.66 EPS. As a group, research analysts expect AvalonBay Communities, Inc. to show 11 EPS for the current fiscal year.

About AvalonBay Communities

(Free Report)

As of December 31, 2023, the Company owned or held a direct or indirect 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 a REIT with interests in the development, redevelopment, acquisition and management of apartment communities in the major metropolitan areas of New England, the New York/New Jersey metropolitan 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.

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