Axxcess Wealth Management LLC Has $422,000 Position in AvalonBay Communities, Inc. (NYSE:AVB)

Axxcess Wealth Management LLC grew its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,252 shares of the real estate investment trust’s stock after buying an additional 91 shares during the period. Axxcess Wealth Management LLC’s holdings in AvalonBay Communities were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AVB. Malaga Cove Capital LLC lifted its position in shares of AvalonBay Communities by 8.7% during the 4th quarter. Malaga Cove Capital LLC now owns 13,522 shares of the real estate investment trust’s stock valued at $2,532,000 after acquiring an additional 1,078 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in AvalonBay Communities in the 4th quarter valued at about $387,000. Benjamin Edwards Inc. raised its position in shares of AvalonBay Communities by 604.0% in the 4th quarter. Benjamin Edwards Inc. now owns 1,591 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 1,365 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of AvalonBay Communities by 15.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 3,236 shares of the real estate investment trust’s stock worth $606,000 after acquiring an additional 421 shares in the last quarter. Finally, New York Life Investment Management LLC increased its stake in AvalonBay Communities by 9.8% in the fourth quarter. New York Life Investment Management LLC now owns 42,722 shares of the real estate investment trust’s stock valued at $7,998,000 after acquiring an additional 3,803 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the transaction, the executive vice president now owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Kevin P. O’shea sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joanne M. Lockridge sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the completion of the transaction, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on AVB. Piper Sandler raised their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Morgan Stanley raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $191.50 in a research note on Monday, February 26th. Mizuho reduced their price target on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Barclays increased their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price objective for the company. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.50.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $194.90 on Thursday. The stock has a market cap of $27.71 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 3.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $198.65. The firm’s 50-day simple moving average is $184.93 and its 200 day simple moving average is $179.50.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The business had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. During the same quarter in the prior year, the firm posted $2.57 earnings per share. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current fiscal year.

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.