Aew Capital Management L P lessened its position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 18.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 557,322 shares of the real estate investment trust’s stock after selling 127,576 shares during the period. AvalonBay Communities comprises 7.3% of Aew Capital Management L P’s investment portfolio, making the stock its 4th biggest holding. Aew Capital Management L P’s holdings in AvalonBay Communities were worth $101,048,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVB. BOKF NA acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth about $31,000. Elyxium Wealth LLC acquired a new position in shares of AvalonBay Communities during the 4th quarter worth about $32,000. AlphaQuest LLC acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth about $33,000. Headlands Technologies LLC acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth about $36,000. Finally, Fulcrum Asset Management LLP acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 92.61% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on AVB. Cantor Fitzgerald upped their price objective on AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Truist Financial lowered their target price on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Scotiabank lowered their target price on shares of AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a report on Thursday, May 14th. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a report on Wednesday, April 8th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $196.93.
AvalonBay Communities Stock Up 0.7%
Shares of NYSE AVB opened at $186.45 on Thursday. The stock has a market cap of $25.94 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.22 and a beta of 0.79. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. AvalonBay Communities, Inc. has a 52-week low of $160.10 and a 52-week high of $209.86. The business has a 50-day moving average price of $173.29 and a 200 day moving average price of $176.67.
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The firm had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same period last year, the company earned $2.83 earnings per share. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.3 earnings per share for the current year.
About AvalonBay Communities
AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.
AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.
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