Bristlecone Advisors LLC Sells 104 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Bristlecone Advisors LLC decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 4.5% during the second quarter, Holdings Channel.com reports. The fund owned 2,208 shares of the real estate investment trust’s stock after selling 104 shares during the quarter. Bristlecone Advisors LLC’s holdings in AvalonBay Communities were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in AVB. Lasalle Investment Management Securities LLC lifted its stake in shares of AvalonBay Communities by 3.1% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after buying an additional 18,320 shares in the last quarter. Delta Investment Management LLC purchased a new stake in shares of AvalonBay Communities during the fourth quarter worth about $873,000. GSI Capital Advisors LLC raised its stake in AvalonBay Communities by 21.3% during the 4th quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock valued at $9,506,000 after purchasing an additional 8,925 shares during the period. Van ECK Associates Corp lifted its holdings in AvalonBay Communities by 14.4% in the 4th quarter. Van ECK Associates Corp now owns 58,931 shares of the real estate investment trust’s stock worth $11,033,000 after purchasing an additional 7,397 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in AvalonBay Communities by 9.2% in the 4th quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock worth $84,890,000 after purchasing an additional 38,235 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.9 %

AVB stock traded down $1.96 during midday trading on Monday, reaching $219.77. The company’s stock had a trading volume of 168,239 shares, compared to its average volume of 716,441. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 3.09 and a beta of 0.96. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $222.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day simple moving average of $207.42 and a two-hundred day simple moving average of $194.19.

AvalonBay Communities (NYSE:AVBGet Free Report) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period last year, the firm earned $2.66 earnings per share. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 10.97 EPS for the current year.

Wall Street Analyst Weigh In

AVB has been the topic of several research analyst reports. Mizuho boosted their target price on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Barclays lifted their target price on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. JPMorgan Chase & Co. raised their price target on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Wells Fargo & Company upped their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Piper Sandler boosted their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $213.06.

Read Our Latest Research Report on AvalonBay Communities

Insider Buying and Selling

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

About AvalonBay Communities

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvalonBay Communities, Inc. (NYSE:AVBFree Report).

Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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