BNP Paribas Arbitrage SA Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

BNP Paribas Arbitrage SA lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 59.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,292 shares of the real estate investment trust’s stock after buying an additional 97,355 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in AvalonBay Communities were worth $54,529,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVB. Arkadios Wealth Advisors increased its position in shares of AvalonBay Communities by 265.0% during the second quarter. Arkadios Wealth Advisors now owns 146 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Smith Asset Management Group LP purchased a new position in shares of AvalonBay Communities in the second quarter worth about $32,000. E Fund Management Co. Ltd. purchased a new stake in AvalonBay Communities during the 1st quarter valued at about $45,000. First Horizon Advisors Inc. lifted its position in AvalonBay Communities by 26.0% during the first quarter. First Horizon Advisors Inc. now owns 257 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 53 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in AvalonBay Communities by 29.5% during the first quarter. Signaturefd LLC now owns 312 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 87.70% of the company’s stock.

Several research firms recently issued reports on AVB. Wells Fargo & Company raised their price objective on shares of AvalonBay Communities from $225.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, August 26th. Royal Bank of Canada upped their price objective on AvalonBay Communities from $216.00 to $229.00 and gave the company a “sector perform” rating in a report on Friday, July 30th. Truist downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Friday, June 4th. They noted that the move was a valuation call. Piper Sandler lifted their price objective on AvalonBay Communities from $205.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, July 1st. Finally, Truist Securities cut AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Friday, June 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $211.82.

In other AvalonBay Communities news, CEO Timothy J. Naughton sold 21,843 shares of the firm’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $228.49, for a total transaction of $4,990,907.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin P. O’shea sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $228.60, for a total transaction of $457,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,253 shares of company stock worth $7,126,588. Insiders own 0.36% of the company’s stock.

Shares of NYSE:AVB opened at $224.29 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.69. The company has a market cap of $31.31 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 6.37 and a beta of 0.93. AvalonBay Communities, Inc. has a fifty-two week low of $131.38 and a fifty-two week high of $233.48. The firm’s 50-day simple moving average is $225.82 and its 200-day simple moving average is $206.95.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Tuesday, July 27th. The real estate investment trust reported $3.21 EPS for the quarter, topping the consensus estimate of $1.93 by $1.28. AvalonBay Communities had a net margin of 48.25% and a return on equity of 10.04%. On average, research analysts forecast that AvalonBay Communities, Inc. will post 7.99 EPS for the current year.

AvalonBay Communities Company Profile

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: Established Communities, Other Stabilized Communities, and Development or Redevelopment Communities.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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