AvalonBay Communities (NYSE:AVB) Hits New 52-Week High at $224.55

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $224.55 and last traded at $223.89, with a volume of 13039 shares. The stock had previously closed at $223.15.

Analyst Ratings Changes

AVB has been the topic of a number of analyst reports. Truist Financial increased their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a research report on Tuesday. Morgan Stanley increased their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the company an "overweight" rating in a research report on Tuesday, May 14th. Mizuho boosted their target price on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a "neutral" rating in a research note on Thursday, May 30th. Evercore ISI increased their price objective on AvalonBay Communities from $216.00 to $223.00 and gave the company an "in-line" rating in a report on Wednesday. Finally, Scotiabank boosted their price target on shares of AvalonBay Communities from $218.00 to $229.00 and gave the company a "sector perform" rating in a research report on Monday. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AvalonBay Communities currently has an average rating of "Hold" and a consensus target price of $214.47.

AvalonBay Communities Trading Up 1.2 %

The business has a 50-day moving average of $209.00 and a 200-day moving average of $195.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.71. The stock has a market cap of $32.10 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 3.09 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS 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 analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the prior year, the company posted $2.66 EPS. As a group, research analysts forecast that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current year.

Insider Transactions at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now 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 SEC, 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 stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, 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 corporate insiders.

Institutional Investors Weigh In On AvalonBay Communities

Institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities during the 2nd quarter worth about $32,000. Versant Capital Management Inc raised its stake in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 169 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in shares of AvalonBay Communities during the first quarter worth approximately $39,000. Pinnacle Bancorp Inc. grew its stake in shares of AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 73 shares in 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.