AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,252 shares of the real estate investment trust’s stock after acquiring 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 large investors have also recently made changes to their positions in the company. Arlington Trust Co LLC purchased a new stake in AvalonBay Communities in the 4th quarter valued at about $45,000. Lindbrook Capital LLC lifted its position in shares of AvalonBay Communities by 53.7% during the third quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 109 shares in the last quarter. Sandy Spring Bank boosted its stake in shares of AvalonBay Communities by 4,428.6% in the third quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 310 shares during the period. Bear Mountain Capital Inc. acquired a new position in shares of AvalonBay Communities in the fourth quarter valued at approximately $66,000. Finally, Larson Financial Group LLC acquired a new stake in AvalonBay Communities during the 3rd quarter worth approximately $80,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

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 current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $198.65. The company’s 50-day moving average price is $184.93 and its 200 day moving average price is $179.50.

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

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $191.50 in a research report on Monday, February 26th. Truist Financial dropped their price objective on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a research report on Tuesday, April 9th. Argus lifted their price objective on shares of AvalonBay Communities from $188.00 to $212.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler increased their target price on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft initiated 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. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, AvalonBay Communities has a consensus rating of “Moderate Buy” and a consensus target price of $200.50.

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.