29,998 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,998 shares of the real estate investment trust's stock, valued at approximately $6,599,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $1,499,050,000. Price T Rowe Associates Inc. MD raised its holdings in AvalonBay Communities by 35.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock worth $1,133,328,000 after purchasing an additional 1,336,698 shares during the last quarter. Principal Financial Group Inc. boosted its position in AvalonBay Communities by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 4,590,539 shares of the real estate investment trust's stock worth $1,009,781,000 after purchasing an additional 27,629 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in AvalonBay Communities by 1.4% in 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 purchasing an additional 55,588 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AvalonBay Communities by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust's stock valued at $810,470,000 after buying an additional 107,655 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AVB shares. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Evercore ISI upped their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Piper Sandler dropped their price objective on shares of AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Morgan Stanley lowered AvalonBay Communities from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Finally, Truist Financial increased their target price on AvalonBay Communities from $229.00 to $230.00 and gave the company a "hold" rating in a report on Monday, March 10th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $238.86.

AvalonBay Communities Trading Up 0.5 %

NYSE AVB traded up $0.95 during trading hours on Friday, hitting $205.40. 522,050 shares of the company's stock were exchanged, compared to its average volume of 699,166. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market capitalization of $29.24 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The business's 50 day moving average is $206.99 and its 200-day moving average is $217.49. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data 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 net margin of 37.13% and a return on equity of 9.15%. The business had revenue of $693.43 million for the quarter, compared to analyst estimates of $744.61 million. During the same period in the prior year, the firm posted $2.70 EPS. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

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.