Shell Asset Management Co. Has $3.78 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Shell Asset Management Co. cut its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 5.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,178 shares of the real estate investment trust’s stock after selling 950 shares during the quarter. Shell Asset Management Co.’s holdings in AvalonBay Communities were worth $3,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Raiffeisen Bank International AG acquired a new stake in AvalonBay Communities during the fourth quarter valued at approximately $235,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AvalonBay Communities during the fourth quarter valued at approximately $53,000. Point72 Asset Management L.P. boosted its holdings in AvalonBay Communities by 125.2% during the fourth quarter. Point72 Asset Management L.P. now owns 103,006 shares of the real estate investment trust’s stock valued at $22,658,000 after purchasing an additional 57,263 shares in the last quarter. ProShare Advisors LLC boosted its holdings in AvalonBay Communities by 6.6% during the fourth quarter. ProShare Advisors LLC now owns 33,033 shares of the real estate investment trust’s stock valued at $7,266,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in AvalonBay Communities by 27.3% during the fourth quarter. Quantinno Capital Management LP now owns 23,932 shares of the real estate investment trust’s stock valued at $5,264,000 after purchasing an additional 5,125 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVB has been the topic of several recent analyst reports. Truist Financial boosted their target price on AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Zelman & Associates raised AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets downgraded AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 target price on the stock. in a report on Friday, April 4th. Evercore ISI boosted their target price on AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Finally, Barclays boosted their target price on AvalonBay Communities from $227.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $239.93.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $205.52 on Friday. The firm has a fifty day moving average of $205.83 and a two-hundred day moving average of $216.92. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 3.11 and a beta of 0.86. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating the consensus estimate of $2.80 by $0.03. The company had revenue of $693.43 million during the quarter, compared to analysts’ expectations of $744.61 million. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. During the same quarter in the previous year, the company posted $2.70 EPS. As a group, equities research analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

AvalonBay Communities 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: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.