AvalonBay Communities (NYSE:AVB) Sets New 1-Year High at $218.92

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $218.92 and last traded at $217.84, with a volume of 4718 shares. The stock had previously closed at $218.02.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Barclays upped their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an "overweight" rating in a research note on Monday, April 29th. Scotiabank raised their target price on shares of AvalonBay Communities from $213.00 to $218.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 7th. Morgan Stanley upped their price target on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 14th. Finally, Evercore ISI cut their price objective on shares of AvalonBay Communities from $218.00 to $216.00 and set an "in-line" rating on the stock in a report on Monday, August 12th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $211.12.

AvalonBay Communities Stock Performance

The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 3.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a fifty day simple moving average of $207.42 and a two-hundred day simple moving average of $193.90.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analysts' expectations 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 previous year, the business earned $2.66 earnings per share. On average, analysts expect that AvalonBay Communities, Inc. will post 10.97 EPS for the current year.

Insider Transactions at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company's stock in a transaction on Monday, August 5th. The stock was 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 of the company's stock, valued at approximately $13,780,506.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the transaction, 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 accessible through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The disclosure for this sale can be found here. Insiders own 0.42% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities during the 2nd quarter worth about $32,000. Byrne Asset Management LLC grew its holdings in AvalonBay Communities by 270.0% during the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 135 shares during the period. Versant Capital Management Inc raised its position in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 169 shares in the last quarter. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities during the first quarter valued at approximately $39,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors 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.