AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 30.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,933 shares of the real estate investment trust’s stock after selling 19,858 shares during the quarter. National Bank of Canada FI’s holdings in AvalonBay Communities were worth $8,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AVB. Arlington Trust Co LLC purchased a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $45,000. Sandy Spring Bank raised its stake in AvalonBay Communities by 4,428.6% during the third quarter. Sandy Spring Bank now owns 317 shares of the real estate investment trust’s stock worth $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 4th quarter valued at $66,000. Larson Financial Group LLC acquired a new stake in shares of AvalonBay Communities during the 3rd quarter worth $80,000. Finally, Blue Trust Inc. raised its position in shares of AvalonBay Communities by 139.6% in the 4th quarter. Blue Trust Inc. now owns 539 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 314 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction 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 approximately $5,812,330.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AvalonBay Communities news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the transaction, the chief financial officer now owns 31,308 shares of the company’s stock, valued at approximately $5,812,330.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the company’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 sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

AvalonBay Communities Stock Up 1.1 %

Shares of NYSE:AVB opened at $197.14 on Friday. The company’s fifty day moving average is $185.30 and its two-hundred day moving average is $179.60. 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 1-year low of $160.45 and a 1-year high of $198.65. The stock has a market capitalization of $28.03 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90.

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). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The firm had revenue of $712.86 million for the quarter, compared to analyst estimates of $706.61 million. During the same period last year, the firm posted $2.57 EPS. Equities analysts anticipate that AvalonBay Communities, Inc. will post 10.86 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVB shares. Argus boosted their price target on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, February 22nd. Royal Bank of Canada boosted their price objective on shares of AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Barclays raised their target price on shares of AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Piper Sandler increased their price target on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.50.

AvalonBay Communities Company 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.