Benjamin Edwards Inc. Grows Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Benjamin Edwards Inc. increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 604.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,591 shares of the real estate investment trust’s stock after buying an additional 1,365 shares during the quarter. Benjamin Edwards Inc.’s holdings in AvalonBay Communities were worth $298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Castleview Partners LLC increased its holdings in shares of AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 216 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities in the 4th quarter worth $45,000. Sandy Spring Bank boosted its holdings in shares of AvalonBay Communities by 4,428.6% in the third quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 310 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of AvalonBay Communities by 53.7% during the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 109 shares during the period. Finally, Bear Mountain Capital Inc. purchased a new position in AvalonBay Communities during the fourth quarter worth about $66,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Up 0.2 %

AVB stock traded up $0.36 during midday trading on Friday, hitting $192.81. The stock had a trading volume of 573,069 shares, compared to its average volume of 818,481. The company’s 50-day moving average price is $183.72 and its 200 day moving average price is $179.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $27.41 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $198.65.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter last year, the firm earned $2.57 EPS. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 10.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVB has been the subject of a number of recent analyst reports. Argus raised their target price on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group restated a “neutral” rating and set a $191.00 target price on shares of AvalonBay Communities in a research report on Thursday, February 22nd. Barclays lifted their price target on shares of AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Royal Bank of Canada boosted their price target on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of AvalonBay Communities in a research note on Friday, January 5th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities has an average rating of “Moderate Buy” and a consensus target price of $200.50.

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.