Amalgamated Bank Sells 529 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Amalgamated Bank lessened its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,473 shares of the real estate investment trust’s stock after selling 529 shares during the period. Amalgamated Bank’s holdings in AvalonBay Communities were worth $6,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Affirmative Financial Network raised its position in shares of AvalonBay Communities by 4.8% during the fourth quarter. First Affirmative Financial Network now owns 1,494 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 69 shares during the last quarter. Atria Investments Inc lifted its position in shares of AvalonBay Communities by 0.7% during the 3rd quarter. Atria Investments Inc now owns 10,723 shares of the real estate investment trust’s stock worth $1,842,000 after buying an additional 79 shares during the period. Wealth Alliance boosted its stake in AvalonBay Communities by 5.8% in the 4th quarter. Wealth Alliance now owns 1,595 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 88 shares in the last quarter. Toroso Investments LLC grew its position in AvalonBay Communities by 0.4% in the third quarter. Toroso Investments LLC now owns 26,102 shares of the real estate investment trust’s stock valued at $4,483,000 after acquiring an additional 97 shares during the period. Finally, Stonegate Investment Group LLC boosted its stake in shares of AvalonBay Communities by 4.1% in the 4th quarter. Stonegate Investment Group LLC now owns 2,498 shares of the real estate investment trust’s stock valued at $468,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVB shares. Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $191.50 in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft assumed coverage on AvalonBay Communities in a report on Tuesday, January 30th. They set a “buy” rating and a $206.00 price target for the company. Barclays boosted their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Argus increased their price objective on shares of AvalonBay Communities from $188.00 to $212.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Truist Financial reduced their price target on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a research report on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.50.

AvalonBay Communities Trading Up 0.2 %

Shares of NYSE:AVB opened at $192.81 on Monday. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $198.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $27.41 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The company has a 50-day simple moving average of $184.06 and a 200 day simple moving average of $179.15.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million for the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same period in the prior year, the business earned $2.57 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

Insider Buying and Selling

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

AvalonBay Communities Profile

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.