Gotham Asset Management LLC Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Gotham Asset Management LLC raised its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 126.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,273 shares of the real estate investment trust's stock after purchasing an additional 28,065 shares during the period. Gotham Asset Management LLC's holdings in AvalonBay Communities were worth $11,059,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AVB. Norges Bank acquired a new stake in AvalonBay Communities in the fourth quarter valued at approximately $1,499,050,000. Price T Rowe Associates Inc. MD lifted 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 worth $1,133,328,000 after purchasing an additional 1,336,698 shares in the last quarter. Northern Trust Corp grew its position in AvalonBay Communities by 54.8% in the 4th quarter. Northern Trust Corp now owns 2,642,743 shares of the real estate investment trust's stock valued at $581,324,000 after purchasing an additional 935,770 shares during the period. Wellington Management Group LLP increased its stake in AvalonBay Communities by 49.9% during the 4th quarter. Wellington Management Group LLP now owns 2,488,975 shares of the real estate investment trust's stock valued at $547,500,000 after purchasing an additional 828,009 shares in the last quarter. Finally, Cohen & Steers Inc. raised its holdings in AvalonBay Communities by 25.7% during the fourth quarter. Cohen & Steers Inc. now owns 3,130,108 shares of the real estate investment trust's stock worth $688,527,000 after buying an additional 639,402 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

AVB stock traded up $3.92 during mid-day trading on Thursday, hitting $205.52. The company had a trading volume of 1,028,857 shares, compared to its average volume of 703,680. The stock's fifty day moving average price is $206.05 and its two-hundred day moving average price is $217.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The firm has a market cap of $29.26 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 9.15% and a net margin of 37.13%. During the same period in the prior year, the company earned $2.70 earnings per share. On average, analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on AVB shares. Zelman & Associates raised shares of AvalonBay Communities from a "neutral" rating to an "outperform" rating in a research report on Thursday, February 13th. BMO Capital Markets lowered AvalonBay Communities from an "outperform" rating to a "market perform" rating and set a $220.00 target price on the stock. in a report on Friday, April 4th. Scotiabank lifted their target price on AvalonBay Communities from $241.00 to $251.00 and gave the company a "sector perform" rating in a research report on Monday. 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 report on Monday, May 5th. Finally, Evercore ISI raised their price objective 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. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.