NorthRock Partners LLC Acquires New Position in AvalonBay Communities, Inc. (NYSE:AVB)

NorthRock Partners LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,124 shares of the real estate investment trust’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AVB. Ancora Advisors LLC lifted its holdings in shares of AvalonBay Communities by 1,666.7% in the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 150 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $36,000. Crowley Wealth Management Inc. acquired a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $44,000. CoreCap Advisors LLC lifted its holdings in shares of AvalonBay Communities by 58.9% in the 4th quarter. CoreCap Advisors LLC now owns 251 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 93 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in shares of AvalonBay Communities in the 4th quarter worth approximately $66,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

AvalonBay Communities Trading Up 1.3%

Shares of NYSE:AVB opened at $208.31 on Friday. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company’s 50 day moving average is $205.73 and its two-hundred day moving average is $216.72. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The company has a market cap of $29.66 billion, a PE ratio of 27.45, a P/E/G ratio of 3.11 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. AvalonBay Communities had a net margin of 37.13% and a return on equity of 9.15%. The company had revenue of $693.43 million for the quarter, compared to the consensus estimate of $744.61 million. During the same period in the prior year, the firm posted $2.70 EPS. Equities analysts predict that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on AVB. Zelman & Associates upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets downgraded shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating and set a $220.00 target price on the stock. in a research note on Friday, April 4th. Morgan Stanley upped their target price on shares of AvalonBay Communities from $226.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI upped their target price on shares of AvalonBay Communities from $230.00 to $240.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Finally, Truist Financial upped their target price on shares of AvalonBay Communities from $229.00 to $230.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $239.93.

About AvalonBay Communities

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.