AvalonBay Communities, Inc. $AVB Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 22.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,159,950 shares of the real estate investment trust’s stock after buying an additional 944,129 shares during the quarter. JPMorgan Chase & Co.’s holdings in AvalonBay Communities were worth $935,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. Empowered Funds LLC grew its stake in shares of AvalonBay Communities by 5.7% during the 1st quarter. Empowered Funds LLC now owns 2,723 shares of the real estate investment trust’s stock worth $584,000 after purchasing an additional 148 shares during the period. Guggenheim Capital LLC grew its stake in shares of AvalonBay Communities by 2.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,759 shares of the real estate investment trust’s stock worth $968,000 after purchasing an additional 129 shares during the period. Baird Financial Group Inc. acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth $1,374,000. Cresset Asset Management LLC grew its stake in shares of AvalonBay Communities by 14.2% during the 2nd quarter. Cresset Asset Management LLC now owns 2,890 shares of the real estate investment trust’s stock worth $591,000 after purchasing an additional 360 shares during the period. Finally, Bank of Nova Scotia grew its stake in shares of AvalonBay Communities by 9.5% during the 2nd quarter. Bank of Nova Scotia now owns 18,854 shares of the real estate investment trust’s stock worth $3,837,000 after purchasing an additional 1,629 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald upped their price target on shares of AvalonBay Communities from $186.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Piper Sandler boosted their price objective on shares of AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of AvalonBay Communities in a research report on Wednesday, April 8th. Citigroup decreased their price objective on shares of AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Finally, Barclays decreased their price objective on shares of AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $198.44.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $186.89 on Wednesday. AvalonBay Communities, Inc. has a 52 week low of $160.10 and a 52 week high of $209.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $178.59 and its 200 day simple moving average is $177.52. The firm has a market capitalization of $26.00 billion, a PE ratio of 27.09, a P/E/G ratio of 3.26 and a beta of 0.78.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.33 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.47). The business had revenue of $770.28 million during the quarter, compared to analysts’ expectations of $768.80 million. AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.During the same quarter in the prior year, the firm earned $2.83 earnings per share. On average, equities research analysts predict that AvalonBay Communities, Inc. will post 11.31 EPS for the current fiscal year.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc (NYSE: AVB) is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay’s core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay’s operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.