Baker Tilly Wealth Management LLC Trims Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Baker Tilly Wealth Management LLC cut its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,140 shares of the real estate investment trust’s stock after selling 92 shares during the period. Baker Tilly Wealth Management LLC’s holdings in AvalonBay Communities were worth $443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in AvalonBay Communities during the 4th quarter worth approximately $1,271,756,000. Principal Financial Group Inc. grew its position in AvalonBay Communities by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,759,095 shares of the real estate investment trust’s stock valued at $883,098,000 after buying an additional 109,585 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after buying an additional 249,400 shares during the period. Clearbridge Investments LLC increased its stake in AvalonBay Communities by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock valued at $342,824,000 after buying an additional 8,809 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in AvalonBay Communities by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,513,327 shares of the real estate investment trust’s stock worth $283,325,000 after buying an additional 39,348 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities 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 value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AvalonBay Communities 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 value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the 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 completion of the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Trading Up 0.2 %

NYSE AVB traded up $0.53 during mid-day trading on Friday, hitting $215.21. The company’s stock had a trading volume of 1,603,170 shares, compared to its average volume of 729,457. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $218.79. The stock’s fifty day simple moving average is $205.57 and its two-hundred day simple moving average is $192.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $30.60 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the previous year, the business posted $2.66 EPS. Research analysts expect that AvalonBay Communities, Inc. will post 10.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Barclays boosted their target price on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their target price on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. UBS Group boosted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Scotiabank boosted their target price on AvalonBay Communities from $213.00 to $218.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $211.12.

About AvalonBay Communities

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.