Malaga Cove Capital LLC Buys 1,078 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Malaga Cove Capital LLC lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,522 shares of the real estate investment trust’s stock after purchasing an additional 1,078 shares during the quarter. AvalonBay Communities comprises 1.1% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Malaga Cove Capital LLC’s holdings in AvalonBay Communities were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Castleview Partners LLC raised its holdings in AvalonBay Communities by 1,542.9% during the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 216 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of AvalonBay Communities in the 4th quarter worth about $45,000. Lindbrook Capital LLC lifted its position in AvalonBay Communities by 53.7% in the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 109 shares in the last quarter. Sandy Spring Bank boosted its stake in AvalonBay Communities by 4,428.6% during the 3rd 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 last quarter. Finally, Bear Mountain Capital Inc. bought a new stake in AvalonBay Communities during the 4th quarter worth approximately $66,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 0.2 %

Shares of NYSE AVB traded up $0.36 during midday trading on Friday, reaching $192.81. The company had a trading volume of 573,069 shares, compared to its average volume of 818,481. The firm’s fifty day moving average price is $184.06 and its 200-day moving average price is $179.13. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $198.65. The stock has a market cap of $27.41 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90.

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 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 the consensus estimate of $706.61 million. During the same period last year, the company posted $2.57 earnings per share. On average, equities research analysts anticipate that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

Insider Activity at AvalonBay Communities

In other news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the sale, the executive vice president now directly owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities 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 directly owns 31,308 shares of the company’s stock, valued at $5,812,330.20. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Mizuho cut their target price on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada raised their price target on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Barclays upped their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of AvalonBay Communities in a research report on Tuesday, January 30th. They set a “buy” rating and a $206.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $191.00 target price on shares of AvalonBay Communities in a research note on Thursday, February 22nd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.