S Bank Fund Management Ltd increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 160.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,165 shares of the real estate investment trust’s stock after buying an additional 9,957 shares during the period. S Bank Fund Management Ltd’s holdings in AvalonBay Communities were worth $2,931,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of AvalonBay Communities by 5.7% during the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after acquiring an additional 148 shares in the last quarter. Guggenheim Capital LLC grew its position in shares of AvalonBay Communities by 2.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 129 shares during the period. Baird Financial Group Inc. purchased a new position in shares of AvalonBay Communities in the 2nd quarter valued at about $1,374,000. Cresset Asset Management LLC raised its holdings in AvalonBay Communities by 14.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock worth $591,000 after purchasing an additional 360 shares during the period. Finally, Bank of Nova Scotia raised its holdings in AvalonBay Communities by 9.5% in the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after purchasing an additional 1,629 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.
AvalonBay Communities Trading Up 1.6%
Shares of AVB stock opened at $185.33 on Wednesday. AvalonBay Communities, Inc. has a fifty-two week low of $160.10 and a fifty-two week high of $209.86. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s fifty day moving average is $171.67 and its two-hundred day moving average is $176.66. The firm has a market capitalization of $25.78 billion, a P/E ratio of 26.86, a PEG ratio of 3.20 and a beta of 0.79.
Analysts Set New Price Targets
AVB has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Truist Financial decreased their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Wall Street Zen lowered shares of AvalonBay Communities from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Barclays upped their price objective on shares of AvalonBay Communities from $202.00 to $206.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $197.47.
Get Our Latest Research Report on AvalonBay Communities
AvalonBay Communities Profile
AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.
AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.
See Also
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