Jones Road Capital Management L.P. Raises Stock Position in AvalonBay Communities, Inc. $AVB

Key Points

• Jones Road Capital Management L.P. increased its holdings in AvalonBay Communities by 12.8% to a total of 13,600 shares, making it the firm's 15th largest position, worth approximately $2.9 million.
• AvalonBay Communities has seen multiple price target adjustments from analysts, with Piper Sandler setting the lowest target at $200.00 after previously being $255.00.
• Recent insider transactions revealed that CFO Kevin P. O'shea sold 6,000 shares at an average price of $207.57, reflecting a significant decrease in his ownership.

Jones Road Capital Management L.P. grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,600 shares of the real estate investment trust's stock after buying an additional 1,539 shares during the period. AvalonBay Communities accounts for about 1.8% of Jones Road Capital Management L.P.'s portfolio, making the stock its 15th biggest holding. Jones Road Capital Management L.P.'s holdings in AvalonBay Communities were worth $2,919,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AVB. Proathlete Wealth Management LLC bought a new position in shares of AvalonBay Communities during the first quarter worth approximately $29,000. Opal Wealth Advisors LLC bought a new position in shares of AvalonBay Communities during the first quarter worth approximately $33,000. Ancora Advisors LLC increased its stake in shares of AvalonBay Communities by 1,666.7% during the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 150 shares during the period. Keystone Global Partners LLC bought a new position in shares of AvalonBay Communities during the first quarter worth approximately $45,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of AvalonBay Communities during the first quarter worth approximately $50,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the completion of the sale, the chief financial officer directly owned 22,782 shares in the company, valued at $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the sale, the executive vice president owned 17,617 shares of the company's stock, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVB. Royal Bank Of Canada lowered their price objective on AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Mizuho restated a "neutral" rating and set a $199.00 price objective (down previously from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Morgan Stanley upgraded AvalonBay Communities from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $228.00 to $225.00 in a research note on Wednesday, August 13th. Piper Sandler restated a "neutral" rating and set a $200.00 price objective (down previously from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Finally, Evercore ISI lowered their price objective on AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating on the stock in a research note on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $225.64.

AvalonBay Communities Trading Up 1.7%

AVB traded up $3.1950 during midday trading on Friday, hitting $193.6250. 1,211,655 shares of the company were exchanged, compared to its average volume of 999,080. The firm's 50 day moving average price is $198.02 and its 200-day moving average price is $205.43. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $27.57 billion, a P/E ratio of 23.85, a P/E/G ratio of 2.73 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.02. The business had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. AvalonBay Communities had a return on equity of 9.70% and a net margin of 38.91%.During the same period in the previous year, the company posted $2.77 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. As a group, equities analysts forecast 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.