Michelson Medical Research Foundation Inc. Decreases Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Michelson Medical Research Foundation Inc. reduced its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 88.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,947 shares of the real estate investment trust’s stock after selling 14,383 shares during the period. AvalonBay Communities accounts for about 0.4% of Michelson Medical Research Foundation Inc.’s portfolio, making the stock its 28th largest position. Michelson Medical Research Foundation Inc.’s holdings in AvalonBay Communities were worth $428,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AVB. JPMorgan Chase & Co. increased its stake in shares of AvalonBay Communities by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock valued at $914,627,000 after buying an additional 55,588 shares during the period. Czech National Bank increased its stake in shares of AvalonBay Communities by 6.5% during the fourth quarter. Czech National Bank now owns 30,800 shares of the real estate investment trust’s stock valued at $6,775,000 after buying an additional 1,868 shares during the period. Wedmont Private Capital increased its stake in shares of AvalonBay Communities by 5.3% during the fourth quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 55 shares during the period. Tuttle Capital Management LLC increased its stake in shares of AvalonBay Communities by 34.5% during the fourth quarter. Tuttle Capital Management LLC now owns 1,933 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 496 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of AvalonBay Communities during the fourth quarter valued at approximately $1,093,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Trading Up 1.5%

Shares of NYSE:AVB opened at $208.58 on Tuesday. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29. The business’s fifty day simple moving average is $206.67 and its 200-day simple moving average is $217.28. The company has a market capitalization of $29.70 billion, a PE ratio of 27.48, a P/E/G ratio of 3.11 and a beta of 0.86. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. The firm had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same period in the previous year, the business earned $2.70 EPS. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AVB has been the topic of several recent research reports. Truist Financial upped their price target on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. BMO Capital Markets cut AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a research note on Friday, April 4th. Evercore ISI upped their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Morgan Stanley cut AvalonBay Communities from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Piper Sandler reduced their price target on AvalonBay Communities from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $239.57.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.