AvalonBay Communities (NYSE:AVB) Sees Unusually-High Trading Volume

Shares of AvalonBay Communities, Inc. (NYSE:AVB) saw an uptick in trading volume on Thursday . 515,400 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 729,202 shares.The stock last traded at $230.40 and had previously closed at $229.95.

Analysts Set New Price Targets

AVB has been the topic of several analyst reports. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Royal Bank of Canada lifted their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Piper Sandler upped their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Mizuho lifted their target price on AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Scotiabank increased their price target on AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $218.94.

AvalonBay Communities Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The business’s 50-day moving average is $214.23 and its 200 day moving average is $199.23. The firm has a market capitalization of $33.38 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The business had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter in the previous year, the firm posted $2.66 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

Insider Activity

In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of AvalonBay Communities

Several institutional investors and hedge funds have recently modified their holdings of AVB. SYSTM Wealth Solutions LLC lifted its holdings in shares of AvalonBay Communities by 2.7% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 49 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in AvalonBay Communities by 4.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 59 shares during the last quarter. Mechanics Bank Trust Department boosted its position in AvalonBay Communities by 0.3% in the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 60 shares in the last quarter. SVB Wealth LLC grew its stake in shares of AvalonBay Communities by 1.1% during the first quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock worth $1,026,000 after buying an additional 62 shares during the last quarter. Finally, Profund Advisors LLC increased its holdings in shares of AvalonBay Communities by 2.9% during the second quarter. Profund Advisors LLC now owns 2,202 shares of the real estate investment trust’s stock worth $456,000 after buying an additional 63 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

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.