Martingale Asset Management L P lowered its position in AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,446 shares of the real estate investment trust’s stock after selling 213 shares during the period. Martingale Asset Management L P’s holdings in AvalonBay Communities were worth $2,242,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AVB. Nuveen LLC bought a new stake in shares of AvalonBay Communities in the first quarter worth $280,226,000. Northern Trust Corp grew its holdings in shares of AvalonBay Communities by 54.8% in the fourth quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust’s stock worth $581,324,000 after acquiring an additional 935,770 shares during the period. GAMMA Investing LLC grew its holdings in shares of AvalonBay Communities by 21,024.3% in the first quarter. GAMMA Investing LLC now owns 550,500 shares of the real estate investment trust’s stock worth $118,148,000 after acquiring an additional 547,894 shares during the period. Adelante Capital Management LLC lifted its position in AvalonBay Communities by 1,186.4% during the fourth quarter. Adelante Capital Management LLC now owns 400,444 shares of the real estate investment trust’s stock valued at $88,086,000 after purchasing an additional 369,316 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in AvalonBay Communities during the fourth quarter valued at $78,759,000. Institutional investors own 92.61% of the company’s stock.
AvalonBay Communities Price Performance
Shares of AvalonBay Communities stock opened at $193.6250 on Friday. The stock’s 50-day simple moving average is $198.02 and its 200-day simple moving average is $205.43. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.73 and a beta of 0.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.
Analysts Set New Price Targets
Several equities analysts recently weighed in on AVB shares. JPMorgan Chase & Co. lowered their target price on AvalonBay Communities from $251.00 to $249.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 17th. Morgan Stanley upgraded AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $228.00 to $225.00 in a research report on Wednesday, August 13th. Scotiabank lowered their target price on AvalonBay Communities from $236.00 to $226.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 14th. Evercore ISI lowered their target price on AvalonBay Communities from $216.00 to $212.00 and set an “in-line” rating on the stock in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada lowered their target price on AvalonBay Communities from $216.00 to $211.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $225.64.
Check Out Our Latest Analysis on AVB
Insider Activity
In related news, CFO Kevin P. O’shea sold 6,000 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the sale, the chief financial officer directly owned 22,782 shares in the company, valued at approximately $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the completion of the sale, the executive vice president owned 17,617 shares in the company, valued at $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.
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.
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