Zurcher Kantonalbank Zurich Cantonalbank Has $18.55 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,648 shares of the real estate investment trust's stock after buying an additional 1,893 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of AvalonBay Communities worth $18,547,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities in the second quarter valued at about $32,000. Versant Capital Management Inc lifted its position in 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 valued at $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON acquired a new stake in AvalonBay Communities in the first quarter valued at about $39,000. Pinnacle Bancorp Inc. lifted its position 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 purchasing an additional 75 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in 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 during the period. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Trading Up 1.2 %

AVB stock traded up $2.58 during midday trading on Friday, hitting $225.73. The stock had a trading volume of 801,662 shares, compared to its average volume of 716,186. The firm has a market cap of $32.10 billion, a PE ratio of 33.59, a price-to-earnings-growth 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. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $226.18. The company's 50-day moving average price is $209.00 and its 200 day moving average price is $195.23.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results 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). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The firm had revenue of $726.04 million during the quarter, compared to analysts' expectations of $718.49 million. During the same period in the previous year, the firm posted $2.66 earnings per share. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AVB has been the subject of a number of research reports. Morgan Stanley lifted their price target 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. Evercore ISI lifted their price target on shares of AvalonBay Communities from $216.00 to $223.00 and gave the company an "in-line" rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday. Mizuho lifted their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a "neutral" rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the company a "neutral" rating in a research report on Monday, June 17th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $214.47.

Insider Activity

In other news, SVP Keri A. Shea sold 2,000 shares of the business's stock in a transaction 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 sale, the senior vice president now directly owns 4,383 shares of the company's stock, valued at approximately $908,026.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction 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 transaction, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities 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 transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

About AvalonBay Communities

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.