Benjamin F. Edwards & Company Inc. Invests $387,000 in AvalonBay Communities, Inc. (NYSE:AVB)

Benjamin F. Edwards & Company Inc. acquired a new position in AvalonBay Communities, Inc. (NYSE:AVBFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,066 shares of the real estate investment trust’s stock, valued at approximately $387,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of AvalonBay Communities by 6.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,123 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 190 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of AvalonBay Communities by 6.2% during the 3rd quarter. Brown Advisory Inc. now owns 15,170 shares of the real estate investment trust’s stock worth $2,605,000 after purchasing an additional 880 shares during the period. Lindbrook Capital LLC increased its holdings in shares of AvalonBay Communities by 53.7% during the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 109 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in shares of AvalonBay Communities by 0.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 28,620 shares of the real estate investment trust’s stock valued at $4,915,000 after purchasing an additional 198 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in AvalonBay Communities by 7.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,792 shares of the real estate investment trust’s stock worth $7,349,000 after buying an additional 2,874 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction that occurred 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 owns 21,907 shares in the company, valued at approximately $4,054,985.70. The sale was disclosed in a legal 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 the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of AvalonBay Communities stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the sale, the executive vice president now owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

AvalonBay Communities Price Performance

AVB stock opened at $194.90 on Thursday. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $198.65. The firm has a market capitalization of $27.71 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. 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 business has a 50 day simple moving average of $184.93 and a 200-day simple moving average of $179.50.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The company had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period last year, the business earned $2.57 earnings per share. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVB. Truist Financial decreased their price objective on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a research report on Tuesday, April 9th. Barclays increased their price target on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $191.50 in a research report on Monday, February 26th. Mizuho decreased their target price on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, Piper Sandler boosted their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.50.

View Our Latest Analysis on AVB

AvalonBay Communities Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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