AvalonBay Communities, Inc. $AVB Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. reduced its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,204 shares of the real estate investment trust’s stock after selling 24,812 shares during the period. Cibc World Market Inc.’s holdings in AvalonBay Communities were worth $10,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc boosted its position in shares of AvalonBay Communities by 23.2% during the fourth quarter. CIBC Asset Management Inc now owns 72,073 shares of the real estate investment trust’s stock worth $13,068,000 after buying an additional 13,553 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of AvalonBay Communities by 19.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,509,731 shares of the real estate investment trust’s stock worth $273,729,000 after buying an additional 241,310 shares during the period. Natixis Advisors LLC boosted its position in shares of AvalonBay Communities by 0.5% during the fourth quarter. Natixis Advisors LLC now owns 140,527 shares of the real estate investment trust’s stock worth $25,479,000 after buying an additional 675 shares during the period. New Mexico Educational Retirement Board boosted its position in shares of AvalonBay Communities by 1.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 6,527 shares of the real estate investment trust’s stock worth $1,183,000 after buying an additional 100 shares during the period. Finally, SCS Capital Management LLC boosted its position in shares of AvalonBay Communities by 2.1% during the fourth quarter. SCS Capital Management LLC now owns 14,250 shares of the real estate investment trust’s stock worth $2,584,000 after buying an additional 299 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVB has been the subject of several analyst reports. Royal Bank Of Canada boosted their price objective on AvalonBay Communities from $180.00 to $188.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Wolfe Research upgraded AvalonBay Communities from an “outperform” rating to an “outperform” rating and set a $209.00 price objective for the company in a research report on Monday, June 1st. Wells Fargo & Company reduced their price objective on AvalonBay Communities from $193.00 to $191.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Piper Sandler boosted their price objective on AvalonBay Communities from $183.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Barclays dropped their target price on AvalonBay Communities from $206.00 to $203.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $198.44.

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $189.72 on Friday. AvalonBay Communities, Inc. has a 12 month low of $160.10 and a 12 month high of $209.86. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.30 and a beta of 0.78. The stock’s 50 day moving average price is $177.59 and its 200 day moving average price is $177.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.62 and a quick ratio of 0.62.

AvalonBay Communities (NYSE:AVB) last announced its earnings results 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). AvalonBay Communities had a return on equity of 9.56% and a net margin of 37.21%.The firm had revenue of $770.28 million for the quarter, compared to the consensus estimate of $768.80 million. During the same period in the previous year, the firm earned $2.83 EPS. Equities research analysts anticipate that AvalonBay Communities, Inc. will post 11.31 earnings per share for the current fiscal year.

About AvalonBay Communities

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.