Thompson Siegel & Walmsley LLC Grows Position in AvalonBay Communities, Inc. (NYSE:AVB)

Thompson Siegel & Walmsley LLC grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 11.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,700 shares of the real estate investment trust’s stock after buying an additional 5,000 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in AvalonBay Communities were worth $9,869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mystic Asset Management Inc. lifted its stake in AvalonBay Communities by 4.4% in the 2nd quarter. Mystic Asset Management Inc. now owns 2,390 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 100 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in AvalonBay Communities by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 300,039 shares of the real estate investment trust’s stock worth $62,075,000 after buying an additional 7,939 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in AvalonBay Communities by 11.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,638 shares of the real estate investment trust’s stock worth $1,166,000 after buying an additional 563 shares during the last quarter. Federated Hermes Inc. grew its holdings in AvalonBay Communities by 8.1% in the 2nd quarter. Federated Hermes Inc. now owns 7,730 shares of the real estate investment trust’s stock valued at $1,599,000 after buying an additional 580 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in shares of AvalonBay Communities by 30.2% in the 2nd quarter. Meeder Advisory Services Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $401,000 after acquiring an additional 449 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was 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 directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction dated 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 directly 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 is available through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BNP Paribas began coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Scotiabank lifted their price target on shares of AvalonBay Communities from $218.00 to $229.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, UBS Group boosted their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average target price of $219.94.

AvalonBay Communities Price Performance

AVB stock opened at $234.75 on Monday. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $234.80. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $214.23 and a 200 day moving average price of $199.56.

AvalonBay Communities (NYSE:AVB) last issued its earnings results 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). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same quarter in the previous year, the company posted $2.66 EPS. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities 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.