Tompkins Financial Corp bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 387 shares of the real estate investment trust’s stock, valued at approximately $57,000.
A number of other large investors also recently added to or reduced their stakes in AVB. JPMorgan Chase & Co. lifted its holdings in shares of AvalonBay Communities by 22.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,086,540 shares of the real estate investment trust’s stock valued at $897,886,000 after purchasing an additional 1,133,244 shares in the last quarter. Prudential PLC acquired a new position in shares of AvalonBay Communities in the third quarter valued at approximately $83,481,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of AvalonBay Communities by 20.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 843,433 shares of the real estate investment trust’s stock valued at $125,960,000 after buying an additional 141,120 shares during the period. BlackRock Inc. boosted its holdings in shares of AvalonBay Communities by 0.9% in the third quarter. BlackRock Inc. now owns 14,878,940 shares of the real estate investment trust’s stock valued at $2,222,021,000 after buying an additional 138,390 shares during the period. Finally, Sun Life Financial INC acquired a new position in shares of AvalonBay Communities in the third quarter valued at approximately $18,377,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AVB opened at $178.28 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $167.42 and a 200 day simple moving average of $159.62. AvalonBay Communities, Inc. has a 12 month low of $118.17 and a 12 month high of $229.09. The stock has a market capitalization of $24.89 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 16.32 and a beta of 0.97.
Several research firms have recently weighed in on AVB. Smith Barney Citigroup upped their price target on shares of AvalonBay Communities from $160.00 to $165.00 in a report on Tuesday, December 15th. Wells Fargo & Company upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $160.00 to $185.00 in a report on Thursday, December 10th. KeyCorp upgraded shares of AvalonBay Communities from a “sector weight” rating to an “overweight” rating in a report on Monday. BTIG Research upped their price target on shares of AvalonBay Communities from $184.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 12th. Finally, Mizuho increased their target price on shares of AvalonBay Communities from $160.00 to $169.00 and gave the stock a “neutral” rating in a report on Tuesday, November 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $171.81.
AvalonBay Communities Company Profile
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").
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