Toronto Dominion Bank Buys 5,349 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Toronto Dominion Bank lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,999 shares of the real estate investment trust's stock after purchasing an additional 5,349 shares during the quarter. Toronto Dominion Bank owned about 0.05% of AvalonBay Communities worth $16,718,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in AvalonBay Communities in the 4th quarter valued at about $1,499,050,000. Price T Rowe Associates Inc. MD grew its stake in AvalonBay Communities by 35.0% in the fourth 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 acquiring an additional 1,336,698 shares during the period. Principal Financial Group Inc. increased its holdings in shares of 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 valued at $1,009,781,000 after acquiring an additional 27,629 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AvalonBay Communities by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 4,060,497 shares of the real estate investment trust's stock worth $914,627,000 after purchasing an additional 55,588 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of AvalonBay Communities by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,693,457 shares of the real estate investment trust's stock worth $810,470,000 after purchasing an additional 107,655 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

Shares of AVB opened at $208.62 on Tuesday. The stock has a 50 day moving average of $205.71 and a 200 day moving average of $216.63. The company has a market capitalization of $29.70 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.03. The firm had revenue of $693.43 million during the quarter, compared to analyst estimates of $744.61 million. AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. During the same period last year, the firm posted $2.70 EPS. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on AVB. Evercore ISI boosted their price target on shares of 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 boosted their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. BMO Capital Markets cut shares of AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 price target on the stock. in a research report on Friday, April 4th. Scotiabank lifted their price target on AvalonBay Communities from $241.00 to $251.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Finally, Morgan Stanley increased their price objective on AvalonBay Communities from $226.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, AvalonBay Communities presently has a consensus rating of "Hold" and an average target price of $239.93.

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.

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