Charles Schwab Investment Management Inc. Has $283.33 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Charles Schwab Investment Management Inc. grew its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,513,327 shares of the real estate investment trust’s stock after buying an additional 39,348 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.07% of AvalonBay Communities worth $283,325,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Deutsche Bank AG lifted its stake in AvalonBay Communities by 6.5% in the third quarter. Deutsche Bank AG now owns 2,496,671 shares of the real estate investment trust’s stock valued at $428,778,000 after acquiring an additional 151,995 shares during the last quarter. Wellington Management Group LLP increased its position in AvalonBay Communities by 17.4% during the third quarter. Wellington Management Group LLP now owns 2,298,186 shares of the real estate investment trust’s stock worth $394,690,000 after buying an additional 341,332 shares during the last quarter. Northern Trust Corp lifted its position in shares of AvalonBay Communities by 5.9% in the third quarter. Northern Trust Corp now owns 2,278,363 shares of the real estate investment trust’s stock valued at $391,286,000 after buying an additional 126,288 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of AvalonBay Communities by 2.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 994,505 shares of the real estate investment trust’s stock worth $186,191,000 after acquiring an additional 21,760 shares during the period. Finally, Aew Capital Management L P increased its holdings in shares of AvalonBay Communities by 0.6% during the 3rd quarter. Aew Capital Management L P now owns 791,902 shares of the real estate investment trust’s stock worth $136,001,000 after acquiring an additional 5,031 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVB. Barclays raised their price target on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Royal Bank of Canada upped their price target on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Piper Sandler raised their price objective on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Argus upped their target price on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Morgan Stanley raised AvalonBay Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $175.00 to $191.50 in a report on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.50.

AvalonBay Communities Stock Down 0.5 %

Shares of NYSE AVB opened at $194.90 on Thursday. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $198.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $27.71 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The company has a 50 day simple moving average of $184.93 and a 200 day simple moving average of $179.50.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million during the quarter, compared to the consensus estimate of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same period in the prior year, the firm earned $2.57 EPS. On average, research analysts forecast that AvalonBay Communities, Inc. will post 10.86 EPS for the current year.

Insider Transactions at AvalonBay Communities

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

AvalonBay Communities 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.