AvalonBay Communities (NYSE:AVB) Sees Large Volume Increase

AvalonBay Communities, Inc. (NYSE:AVB) shares saw unusually-high trading volume on Thursday . Approximately 515,400 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 729,202 shares.The stock last traded at $230.40 and had previously closed at $229.95.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AVB shares. Evercore ISI raised their target price on AvalonBay Communities from $223.00 to $225.00 and gave the company an “in-line” rating in a research note on Monday, September 9th. Scotiabank lifted their price objective on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Mizuho increased their target price on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. BNP Paribas began coverage on shares of AvalonBay Communities in a research report on Wednesday. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $218.94.

AvalonBay Communities Trading Up 1.3 %

The company has a market cap of $33.38 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The company’s 50 day moving average price is $214.23 and its 200 day moving average price is $199.23. 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 (NYSE:AVB) last issued its quarterly earnings data 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). 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 the consensus estimate of $718.49 million. During the same period in the previous year, the business posted $2.66 earnings per share. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

Insider Transactions at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s 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 completion of the transaction, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Keri A. Shea sold 2,000 shares of the business’s 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 transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Institutional Trading of AvalonBay Communities

Several institutional investors have recently modified their holdings of the company. Private Advisor Group LLC raised its stake in shares of AvalonBay Communities by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $380,000 after buying an additional 217 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of AvalonBay Communities in the 4th quarter valued at $137,000. Jump Financial LLC grew its stake in AvalonBay Communities by 53.3% during the fourth 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 during the last quarter. QRG Capital Management Inc. raised its position in AvalonBay Communities by 2.8% in the 4th quarter. QRG Capital Management Inc. now owns 5,860 shares of the real estate investment trust’s stock valued at $1,097,000 after purchasing an additional 162 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in 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 acquiring an additional 1,386 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Company 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.