Geode Capital Management LLC Increases Stake in AvalonBay Communities, Inc. $AVB

Geode Capital Management LLC increased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 5.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,151,217 shares of the real estate investment trust’s stock after acquiring an additional 228,244 shares during the quarter. Geode Capital Management LLC owned about 2.93% of AvalonBay Communities worth $750,042,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. BOKF NA purchased a new stake in AvalonBay Communities in the 3rd quarter worth about $31,000. Elyxium Wealth LLC bought a new position in AvalonBay Communities in the 4th quarter worth about $32,000. AlphaQuest LLC bought a new position in AvalonBay Communities in the 3rd quarter worth about $33,000. Headlands Technologies LLC bought a new position in AvalonBay Communities in the 2nd quarter worth about $36,000. Finally, Fulcrum Asset Management LLP bought a new position in AvalonBay Communities in the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

AVB has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of AvalonBay Communities in a research note on Wednesday, April 8th. Citigroup cut their target price on AvalonBay Communities from $212.00 to $198.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Morgan Stanley restated an “equal weight” rating and issued a $203.00 target price (down from $208.00) on shares of AvalonBay Communities in a research note on Thursday, March 26th. Scotiabank cut their target price on AvalonBay Communities from $190.00 to $187.00 and set a “sector perform” rating for the company in a research note on Thursday, May 14th. Finally, Piper Sandler raised their target price on AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. Four investment 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, the stock has a consensus rating of “Hold” and a consensus target price of $197.73.

AvalonBay Communities Stock Performance

Shares of AVB opened at $182.68 on Friday. The company has a market cap of $25.41 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.17 and a beta of 0.79. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $175.35 and a 200-day moving average price of $177.10. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $209.86.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.47). The business had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. AvalonBay Communities had a net margin of 37.21% and a return on equity of 9.56%. During the same quarter last year, the business posted $2.83 EPS. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.31 earnings per share 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.