Global X Japan Co. Ltd. buys shares of 338 shares of AvalonBay Communities, Inc. (NYSE:AVB)

Global X Japan Co. Ltd. purchased a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 338 shares of the real estate investment trust’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. Private Advisor Group LLC boosted its holdings in shares of AvalonBay Communities by 12.0% during the 4th quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock worth $380,000 after buying an additional 217 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of AvalonBay Communities in the 4th quarter valued at $137,000. Jump Financial LLC boosted its holdings in shares of AvalonBay Communities by 53.3% during the 4th quarter. Jump Financial LLC now owns 3,680 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 1,280 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of AvalonBay Communities by 2.8% during the 4th quarter. QRG Capital Management Inc. now owns 5,860 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 162 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of AvalonBay Communities by 30.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,883 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 1,386 shares during the last quarter. 92.61% of shares are currently owned by institutional investors and hedge funds.

Changes in Analyst Ratings

AVB has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Truist Financial upped their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Piper Sandler upped their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. UBS Group upped their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company boosted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th . Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $217.12, according to MarketBeat.com.

See the latest stock report on AVB

Indoor activity

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the director now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In related news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction dated 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 $908,026.11. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated 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 sale, the director now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s shares.

AvalonBay Communities stock performance

Shares of AvalonBay Communities stock opened at $229.24 on Wednesday. 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’s 50-day simple moving average is $212.41, and its 200-day simple moving average is $198.35. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03, and a current ratio of 2.03. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $230.04.

AvalonBay Communities (NYSE:AVB – Get Your Free Report ) last posted its earnings results 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). The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. In the same quarter last year, the company posted EPS of $2.66. Equities analysts estimate that AvalonBay Communities, Inc. will post 11 earnings per share for the current fiscal year.

AvalonBay Communities Company Profile

(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.

Further reading

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