AvalonBay Communities, Inc. $AVB Shares Sold by Vestcor Inc

Vestcor Inc decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 56.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,851 shares of the real estate investment trust’s stock after selling 22,800 shares during the quarter. Vestcor Inc’s holdings in AvalonBay Communities were worth $3,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in AvalonBay Communities by 0.3% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,971 shares of the real estate investment trust’s stock valued at $5,434,000 after acquiring an additional 100 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in AvalonBay Communities by 3.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 77,931 shares of the real estate investment trust’s stock valued at $14,130,000 after acquiring an additional 2,925 shares during the last quarter. State of Wyoming acquired a new position in AvalonBay Communities in the fourth quarter valued at $411,000. CIBC Asset Management Inc boosted its holdings in AvalonBay Communities by 23.2% in the fourth quarter. CIBC Asset Management Inc now owns 72,073 shares of the real estate investment trust’s stock valued at $13,068,000 after acquiring an additional 13,553 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in AvalonBay Communities by 19.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,509,731 shares of the real estate investment trust’s stock valued at $273,729,000 after acquiring an additional 241,310 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of research analyst reports. Truist Financial reduced their target price on AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Scotiabank dropped their price objective on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research report on Thursday, May 14th. Barclays dropped their price objective on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Citigroup dropped their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Finally, Piper Sandler increased their price objective on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $198.44.

AvalonBay Communities Stock Up 0.3%

Shares of NYSE AVB opened at $189.72 on Friday. AvalonBay Communities, Inc. has a 1 year low of $160.10 and a 1 year high of $209.86. The firm has a market cap of $26.39 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.62 and a current ratio of 0.62. The stock’s 50-day simple moving average is $177.59 and its 200-day simple moving average is $177.38.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The business had revenue of $770.28 million for the quarter, compared to analysts’ expectations of $768.80 million. During the same period in the previous year, the firm posted $2.83 earnings per share. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

AvalonBay Communities Company 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.