Andra AP fonden sells 38,000 shares of AvalonBay Communities, Inc. (NYSE:AVB)

Andra AP fonden reduced its position in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 60.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,500 shares of the real estate investment trust’s stock after selling 38,000 shares during the period. Andra AP fonden’s holdings in AvalonBay Communities were worth $5,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have recently made changes to their positions in the company. &PARTNERS bought a new position in shares of AvalonBay Communities in the second quarter valued at approximately $1,538,000. Lasalle Investment Management Securities LLC lifted its position in AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after purchasing an additional 18,320 shares during the period. GSI Capital Advisors LLC lifted its position in AvalonBay Communities by 21.3% during the fourth 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 lifted its position in AvalonBay Communities by 9.2% during the fourth 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 period. Finally, Sheets Smith Wealth Management bought a new position in AvalonBay Communities in the first quarter valued at about $768,000. Institutional investors own 92.61% of the company’s shares.

AvalonBay Communities stock performance

Shares of NYSE AVB opened at $229.95 on Thursday. The firm has a fifty day moving average price of $212.99 and a 200 day moving average price of $198.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03, and a quick ratio of 2.03. The stock has a market cap of $32.70 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $230.31.

AvalonBay Communities (NYSE:AVB – Get Your Free Report ) last announced its quarterly earnings data 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 firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. In the same period last year, the company earned $2.66 per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11 earnings per share for the current fiscal year.

The Wall Street analyst weighs in

A number of research analysts recently weighed in on AVB shares. UBS Group boosted their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. 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 research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday. BNP Paribas started coverage on shares of AvalonBay Communities in a research report on Wednesday. They set an “outperform” rating and a $250.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th . Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $218.94, according to MarketBeat.com.

Read our latest research report on AVB

Inside activity at AvalonBay communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction on 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 directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following 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 legal filing with the SEC, which is accessible via this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction 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 sale, the director now owns 65,967 shares in the company, valued at $13,780,506.30. The disclosure for this sale can be found here. 0.42% of shares are currently held by corporate insiders.

AvalonBay Communities 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.

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