Coldstream Capital Management Inc. Buys 397 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Coldstream Capital Management Inc. grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,340 shares of the real estate investment trust’s stock after purchasing an additional 397 shares during the quarter. Coldstream Capital Management Inc.’s holdings in AvalonBay Communities were worth $2,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AVB. Norges Bank bought a new position in AvalonBay Communities in the fourth quarter worth about $1,271,756,000. Principal Financial Group Inc. raised its position in shares of AvalonBay Communities by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,759,095 shares of the real estate investment trust’s stock worth $883,098,000 after acquiring an additional 109,585 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after purchasing an additional 249,400 shares during the period. Clearbridge Investments LLC boosted its position in shares of AvalonBay Communities by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock valued at $342,824,000 after purchasing an additional 8,809 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in AvalonBay Communities by 11.9% in the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after purchasing an additional 126,055 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVB has been the subject of several recent research reports. Truist Financial raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Scotiabank upped their price objective on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Royal Bank of Canada raised their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price target on AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $217.12.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $414,340.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. 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 in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

AvalonBay Communities Price Performance

Shares of AVB opened at $229.24 on Wednesday. The firm has a fifty day simple moving average of $212.41 and a two-hundred day simple moving average of $198.35. The firm has a market cap of $32.59 billion, a PE ratio of 34.11, a P/E/G ratio of 3.03 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $230.04.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share 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 the consensus estimate of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the prior year, the company posted $2.66 EPS. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 11 EPS for the current year.

AvalonBay Communities Profile

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.