Bank of America Corp DE Acquires 284,421 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Bank of America Corp DE lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 86.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 614,118 shares of the real estate investment trust's stock after acquiring an additional 284,421 shares during the quarter. Bank of America Corp DE owned approximately 0.43% of AvalonBay Communities worth $135,088,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AVB. Wedmont Private Capital increased its holdings in shares of AvalonBay Communities by 5.3% in the fourth quarter. Wedmont Private Capital now owns 1,094 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 55 shares during the last quarter. Signaturefd LLC grew its stake in AvalonBay Communities by 4.0% in the 4th quarter. Signaturefd LLC now owns 1,616 shares of the real estate investment trust's stock valued at $356,000 after buying an additional 62 shares during the last quarter. Private Advisor Group LLC raised its holdings in AvalonBay Communities by 2.6% in the 4th quarter. Private Advisor Group LLC now owns 2,512 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 63 shares during the period. Oregon Public Employees Retirement Fund lifted its position in AvalonBay Communities by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,179 shares of the real estate investment trust's stock worth $2,679,000 after acquiring an additional 69 shares during the last quarter. Finally, Greenleaf Trust boosted its holdings in shares of AvalonBay Communities by 2.4% during the fourth quarter. Greenleaf Trust now owns 3,028 shares of the real estate investment trust's stock worth $666,000 after acquiring an additional 70 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVB. Evercore ISI lifted their price target on AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $236.00 to $223.00 in a research note on Friday, January 24th. 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. Zelman & Associates upgraded shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price target on shares of AvalonBay Communities from $223.00 to $220.00 and set a "sector perform" rating for the company in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $238.86.

AvalonBay Communities Stock Up 0.5 %

Shares of NYSE:AVB opened at $205.40 on Friday. The company has a market capitalization of $29.24 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 52-week low of $180.40 and a 52-week high of $239.29. 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 company has a fifty day moving average of $206.99 and a 200-day moving average of $217.57.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.03. The business had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. During the same quarter last year, the business earned $2.70 EPS. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities 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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