Altshuler Shaham Ltd Invests $2.16 Million in AvalonBay Communities, Inc. (NYSE:AVB)

Altshuler Shaham Ltd acquired a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,550 shares of the real estate investment trust’s stock, valued at approximately $2,162,000. AvalonBay Communities comprises 0.1% of Altshuler Shaham Ltd’s investment portfolio, making the stock its 23rd largest holding.

Other large investors have also recently bought and sold shares of the company. Castleview Partners LLC boosted its holdings in shares of AvalonBay Communities by 1,542.9% during the 3rd 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 period. Arlington Trust Co LLC acquired a new stake in AvalonBay Communities during the fourth quarter worth about $45,000. Lindbrook Capital LLC lifted its position in shares of AvalonBay Communities by 53.7% in the 3rd quarter. Lindbrook Capital LLC now owns 312 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 109 shares during the period. Sandy Spring Bank grew its holdings in shares of 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 worth $54,000 after purchasing an additional 310 shares in the last quarter. Finally, Bear Mountain Capital Inc. bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at approximately $66,000. 92.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVB has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Argus increased their price target on shares of AvalonBay Communities from $188.00 to $212.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Mizuho lowered their price objective on AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $191.50 in a report on Monday, February 26th. Finally, Truist Financial decreased their price objective on shares of AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating on the stock in a research note on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.50.

Insiders Place Their Bets

In other news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at approximately $5,812,330.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AvalonBay Communities news, EVP Joanne M. Lockridge sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.10, for a total value of $323,925.00. Following the completion of the sale, the executive vice president now owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction on Friday, March 8th. The stock was 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 in the company, valued at $5,812,330.20. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

AvalonBay Communities Trading Up 1.1 %

AvalonBay Communities stock traded up $2.24 during mid-day trading on Thursday, hitting $197.14. The stock had a trading volume of 352,195 shares, compared to its average volume of 796,211. The stock has a 50-day simple moving average of $185.30 and a two-hundred day simple moving average of $179.60. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $28.03 billion, a PE ratio of 29.34, a P/E/G ratio of 3.28 and a beta of 0.90. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to the consensus estimate of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same period last year, the business posted $2.57 EPS. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 10.86 EPS for the current year.

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.