Metis Global Partners LLC Acquires 959 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Metis Global Partners LLC boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,255 shares of the real estate investment trust’s stock after purchasing an additional 959 shares during the period. Metis Global Partners LLC’s holdings in AvalonBay Communities were worth $3,605,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in AvalonBay Communities during the 3rd quarter valued at $3,610,000. Ferguson Wellman Capital Management Inc. raised its stake in shares of AvalonBay Communities by 2.1% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock valued at $46,561,000 after acquiring an additional 5,061 shares during the last quarter. Delta Investment Management LLC bought a new position in shares of AvalonBay Communities during the fourth quarter valued at about $873,000. Van ECK Associates Corp boosted its holdings in shares of AvalonBay Communities by 14.4% during the fourth quarter. Van ECK Associates Corp now owns 58,931 shares of the real estate investment trust’s stock worth $11,033,000 after purchasing an additional 7,397 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of AvalonBay Communities by 2.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 994,505 shares of the real estate investment trust’s stock worth $186,191,000 after purchasing an additional 21,760 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on AVB. Royal Bank of Canada increased their price objective on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Morgan Stanley raised shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $175.00 to $191.50 in a research note on Monday, February 26th. Mizuho reduced their price target on shares of AvalonBay Communities from $188.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Barclays raised their price objective on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Finally, Piper Sandler lifted their price objective on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.50.

Insider Buying and Selling

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

AvalonBay Communities Stock Performance

AvalonBay Communities stock traded up $2.37 during midday trading on Monday, reaching $195.18. 505,426 shares of the company traded hands, compared to its average volume of 808,996. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65. The firm has a market capitalization of $27.75 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The business has a 50 day moving average of $184.06 and a two-hundred day moving average of $179.15.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The firm had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter last year, the company posted $2.57 EPS. As a group, research analysts predict that AvalonBay Communities, Inc. will post 10.86 earnings per share for the current year.

AvalonBay Communities Company Profile

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.