Woodline Partners LP Purchases Shares of 142,215 AvalonBay Communities, Inc. (NYSE:AVB)

Woodline Partners LP purchased a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 142,215 shares of the real estate investment trust’s stock, valued at approximately $31,283,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of AvalonBay Communities in the fourth quarter worth approximately $1,499,050,000. Price T Rowe Associates Inc. MD raised its position in AvalonBay Communities by 35.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust’s stock worth $1,133,328,000 after acquiring an additional 1,336,698 shares during the period. Northern Trust Corp boosted its stake in shares of AvalonBay Communities by 54.8% during the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock worth $581,324,000 after acquiring an additional 935,770 shares during the last quarter. Wellington Management Group LLP grew its position in shares of AvalonBay Communities by 49.9% during the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust’s stock valued at $547,500,000 after acquiring an additional 828,009 shares during the period. Finally, Cohen & Steers Inc. grew its position in shares of AvalonBay Communities by 25.7% during the 4th quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust’s stock valued at $688,527,000 after acquiring an additional 639,402 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

AVB has been the topic of a number of recent research reports. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. Piper Sandler reduced their price target on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. BMO Capital Markets cut AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price objective on the stock. in a research report on Friday, April 4th. Royal Bank of Canada cut their price objective on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley increased their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $239.93.

AvalonBay Communities Trading Down 0.1%

AVB stock opened at $208.51 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The business has a 50 day simple moving average of $205.73 and a two-hundred day simple moving average of $216.57. The company has a market capitalization of $29.69 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The firm had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same quarter in the previous year, the firm earned $2.70 earnings per share. Research analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.