Private Advisor Group LLC Invests $335,000 in AvalonBay Communities, Inc. (NYSE:AVB)

Private Advisor Group LLC bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,995 shares of the real estate investment trust’s stock, valued at approximately $335,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AVB. Massmutual Trust Co. FSB ADV grew its stake in AvalonBay Communities by 290.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 116 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in AvalonBay Communities by 2,142.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 157 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in AvalonBay Communities in the first quarter worth about $69,000. Focused Wealth Management Inc acquired a new position in AvalonBay Communities in the first quarter worth about $50,000. Finally, Machina Capital S.A.S. acquired a new position in AvalonBay Communities in the first quarter worth about $50,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Down 1.3 %

NYSE AVB opened at $181.35 on Tuesday. AvalonBay Communities, Inc. has a twelve month low of $153.07 and a twelve month high of $216.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market cap of $25.76 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.98 and a beta of 0.93. The firm’s 50 day moving average price is $187.41 and its two-hundred day moving average price is $179.10.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.01). AvalonBay Communities had a return on equity of 11.01% and a net margin of 46.32%. The company had revenue of $690.86 million during the quarter, compared to analyst estimates of $675.67 million. During the same period last year, the company posted $2.43 earnings per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 10.55 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on AVB. BMO Capital Markets lifted their price target on AvalonBay Communities from $200.00 to $215.00 in a research note on Tuesday, July 18th. 888 restated a “maintains” rating on shares of AvalonBay Communities in a research note on Friday, May 19th. Barclays lifted their target price on AvalonBay Communities from $186.00 to $195.00 in a research note on Wednesday, May 31st. StockNews.com started coverage on AvalonBay Communities in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada lifted their target price on AvalonBay Communities from $193.00 to $195.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average price target of $198.53.

Insider Transactions at AvalonBay Communities

In other news, EVP Joanne M. Lockridge sold 3,331 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $186.25, for a total value of $620,398.75. Following the transaction, the executive vice president now directly owns 21,558 shares of the company’s stock, valued at $4,015,177.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by company insiders.

About AvalonBay Communities

As of June 30, 2023, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. 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.