Cibc World Markets Corp boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 377.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,474 shares of the real estate investment trust’s stock after purchasing an additional 50,173 shares during the quarter. Cibc World Markets Corp’s holdings in AvalonBay Communities were worth $13,246,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in AVB. Arkadios Wealth Advisors boosted its position in shares of AvalonBay Communities by 265.0% in the second quarter. Arkadios Wealth Advisors now owns 146 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Smith Asset Management Group LP bought a new stake in shares of AvalonBay Communities in the second quarter valued at about $32,000. E Fund Management Co. Ltd. bought a new stake in shares of AvalonBay Communities in the first quarter valued at about $45,000. First Horizon Advisors Inc. boosted its position in shares of AvalonBay Communities by 26.0% in the first quarter. First Horizon Advisors Inc. now owns 257 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 53 shares during the period. Finally, Signaturefd LLC boosted its position in shares of AvalonBay Communities by 29.5% in the first quarter. Signaturefd LLC now owns 312 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 71 shares during the period. 87.70% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of AvalonBay Communities in a research report on Monday, June 14th. They set a “peer perform” rating and a $238.00 price objective for the company. Truist cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Friday, June 4th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on shares of AvalonBay Communities from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 5th. Wells Fargo & Company upped their price objective on shares of AvalonBay Communities from $225.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AvalonBay Communities from $162.00 to $176.00 and gave the stock a “sell” rating in a research report on Wednesday, May 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $211.82.
Shares of AVB stock opened at $224.29 on Wednesday. The stock has a market capitalization of $31.31 billion, a PE ratio of 29.05, a PEG ratio of 6.37 and a beta of 0.93. AvalonBay Communities, Inc. has a one year low of $131.38 and a one year high of $233.48. The business’s 50 day simple moving average is $225.82 and its 200 day simple moving average is $206.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.41 and a quick ratio of 1.41.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, July 27th. The real estate investment trust reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $1.28. AvalonBay Communities had a return on equity of 10.04% and a net margin of 48.25%. As a group, research analysts expect that AvalonBay Communities, Inc. will post 7.99 earnings per share for the current 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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.
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