Man Group plc Sells 63,407 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Man Group plc reduced its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 53.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,296 shares of the real estate investment trust’s stock after selling 63,407 shares during the quarter. Man Group plc’s holdings in AvalonBay Communities were worth $12,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its position in shares of AvalonBay Communities by 29.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,260 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 288 shares in the last quarter. JPMorgan Chase & Co. lifted its position in AvalonBay Communities by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust’s stock valued at $914,627,000 after acquiring an additional 55,588 shares in the last quarter. Hsbc Holdings PLC lifted its position in AvalonBay Communities by 1.4% in the 4th quarter. Hsbc Holdings PLC now owns 604,010 shares of the real estate investment trust’s stock valued at $132,751,000 after acquiring an additional 8,439 shares in the last quarter. Portfolio Design Labs LLC lifted its position in AvalonBay Communities by 27.0% in the 4th quarter. Portfolio Design Labs LLC now owns 22,356 shares of the real estate investment trust’s stock valued at $4,918,000 after acquiring an additional 4,747 shares in the last quarter. Finally, Sei Investments Co. lifted its position in AvalonBay Communities by 14.1% in the 4th quarter. Sei Investments Co. now owns 344,139 shares of the real estate investment trust’s stock valued at $75,701,000 after acquiring an additional 42,416 shares in the last quarter. 92.61% of the stock is owned by institutional investors.

AvalonBay Communities Trading Up 1.3%

NYSE:AVB opened at $208.31 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $29.66 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The business has a fifty day moving average price of $205.73 and a 200-day moving average price of $216.72.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, topping the consensus estimate of $2.80 by $0.03. The firm had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same period in the prior year, the business posted $2.70 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVB. Royal Bank of Canada lowered their price objective on AvalonBay Communities from $223.00 to $220.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. Barclays upped their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 13th. Morgan Stanley upped their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Truist Financial boosted their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AvalonBay Communities has an average rating of “Hold” and an average target price of $239.93.

AvalonBay Communities Company 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.