Carronade Capital Management LP Buys 1,918 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Carronade Capital Management LP grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,890 shares of the real estate investment trust's stock after acquiring an additional 1,918 shares during the period. AvalonBay Communities comprises approximately 0.5% of Carronade Capital Management LP's portfolio, making the stock its 17th largest position. Carronade Capital Management LP's holdings in AvalonBay Communities were worth $8,555,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in AvalonBay Communities in the fourth quarter valued at $1,499,050,000. Price T Rowe Associates Inc. MD increased its holdings in shares of AvalonBay Communities by 35.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,152,183 shares of the real estate investment trust's stock valued at $1,133,328,000 after purchasing an additional 1,336,698 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of AvalonBay Communities by 0.6% during the 4th 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 acquiring 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 raised its position in AvalonBay Communities by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust's stock worth $810,470,000 after acquiring an additional 107,655 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Zelman & Associates raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 13th. Evercore ISI upped their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Morgan Stanley downgraded shares of AvalonBay Communities from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $236.00 to $223.00 in a research note on Friday, January 24th. Barclays lifted their price objective on AvalonBay Communities from $226.00 to $227.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Finally, Piper Sandler decreased their target price on AvalonBay Communities from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday. Eight equities research 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 presently has a consensus rating of "Hold" and a consensus price target of $238.57.

AvalonBay Communities Stock Down 0.1 %

Shares of NYSE:AVB traded down $0.14 during midday trading on Wednesday, reaching $207.73. 1,011,970 shares of the company were exchanged, compared to its average volume of 695,770. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a fifty-two week low of $180.40 and a fifty-two week high of $239.29. The firm has a market cap of $29.57 billion, a PE ratio of 27.37, a P/E/G ratio of 3.11 and a beta of 0.86. The stock has a fifty day simple moving average of $207.83 and a two-hundred day simple moving average of $217.84.

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, topping analysts' consensus estimates of $2.80 by $0.03. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. The company had revenue of $693.43 million during the quarter, compared to analysts' expectations of $744.61 million. During the same quarter in the previous year, the company posted $2.70 earnings per share. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share 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.