BROOKFIELD Corp ON Makes New Investment in AvalonBay Communities, Inc. (NYSE:AVB)

BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 141,094 shares of the real estate investment trust's stock, valued at approximately $31,036,000. BROOKFIELD Corp ON owned about 0.10% of AvalonBay Communities as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AVB. Ancora Advisors LLC boosted its holdings in AvalonBay Communities by 1,666.7% in the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 150 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of AvalonBay Communities in the 4th quarter valued at about $36,000. Crowley Wealth Management Inc. acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $44,000. Generali Asset Management SPA SGR acquired a new stake in shares of AvalonBay Communities during the 4th quarter worth approximately $66,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of AvalonBay Communities by 312.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $80,000 after buying an additional 275 shares during the last quarter. Institutional investors own 92.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on AVB shares. Morgan Stanley lowered shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $236.00 to $223.00 in a report on Friday, January 24th. Barclays lifted their price objective on AvalonBay Communities from $227.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Friday. Evercore ISI increased their target price on AvalonBay Communities from $230.00 to $240.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Truist Financial raised their target price on AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Finally, Piper Sandler lowered their price target on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $238.86.

AvalonBay Communities Stock Up 0.5 %

Shares of AVB traded up $0.95 during midday trading on Friday, hitting $205.40. The stock had a trading volume of 522,050 shares, compared to its average volume of 697,590. The firm has a market cap of $29.24 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86. The company has a 50 day simple moving average of $206.99 and a two-hundred day simple moving average of $217.57. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. The firm had revenue of $693.43 million for the quarter, compared to analysts' expectations of $744.61 million. During the same quarter in the previous year, the business posted $2.70 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

About AvalonBay Communities

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.