Nicholas Hoffman & Company LLC. Makes New $218,000 Investment in AvalonBay Communities, Inc. (NYSE:AVB)

Nicholas Hoffman & Company LLC. acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,054 shares of the real estate investment trust’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Truist Financial Corp grew its holdings in AvalonBay Communities by 22.9% in the 4th quarter. Truist Financial Corp now owns 8,016 shares of the real estate investment trust’s stock valued at $1,501,000 after buying an additional 1,494 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in AvalonBay Communities in the fourth quarter valued at approximately $387,000. Axxcess Wealth Management LLC increased its position in AvalonBay Communities by 4.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,252 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 91 shares during the last quarter. Private Advisor Group LLC raised its stake in AvalonBay Communities by 12.0% during the fourth quarter. Private Advisor Group LLC now owns 2,031 shares of the real estate investment trust’s stock worth $380,000 after purchasing an additional 217 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of AvalonBay Communities by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,513,327 shares of the real estate investment trust’s stock valued at $283,325,000 after purchasing an additional 39,348 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Trading Down 0.3 %

Shares of NYSE AVB opened at $226.40 on Friday. The stock’s 50 day simple moving average is $211.15 and its 200 day simple moving average is $197.02. The company has a market cap of $32.19 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $230.04. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last announced its 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). The firm had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same period in the previous year, the firm earned $2.66 EPS. Equities research analysts expect that AvalonBay Communities, Inc. will post 11 EPS for the current year.

Insider Activity

In related news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AVB shares. Truist Financial upped their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Mizuho increased their target price on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Evercore ISI raised their price target on shares of AvalonBay Communities from $216.00 to $223.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley boosted their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average target price of $214.47.

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.