JPMorgan Chase & Co. Raises Stock Position in AvalonBay Communities, Inc. $AVB

JPMorgan Chase & Co. lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 22.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,159,950 shares of the real estate investment trust’s stock after buying an additional 944,129 shares during the quarter. JPMorgan Chase & Co. owned about 3.64% of AvalonBay Communities worth $935,551,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AVB. BOKF NA purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $31,000. Elyxium Wealth LLC purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $32,000. AlphaQuest LLC purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $33,000. Headlands Technologies LLC purchased a new stake in shares of AvalonBay Communities during the 2nd quarter worth approximately $36,000. Finally, Fulcrum Asset Management LLP purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $186.89 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 3.26 and a beta of 0.78. The firm’s fifty day simple moving average is $178.59 and its 200-day simple moving average is $177.52. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $209.86.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.47). The firm had revenue of $770.28 million during the quarter, compared to analyst estimates of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same period in the prior year, the firm posted $2.83 earnings per share. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AVB shares. Royal Bank Of Canada lifted their target price on shares of AvalonBay Communities from $180.00 to $188.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Barclays cut their target price on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Truist Financial cut their target price on shares of AvalonBay Communities from $203.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AvalonBay Communities in a report on Wednesday, April 8th. Finally, UBS Group cut their target price on shares of AvalonBay Communities from $191.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $198.44.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.