Mission Creek Capital Partners Inc. decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB – Free Report) by 5.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,455 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in AvalonBay Communities were worth $413,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in AVB. Ossiam increased its holdings in AvalonBay Communities by 11.4% during the 1st quarter. Ossiam now owns 105,806 shares of the real estate investment trust’s stock worth $17,782,000 after purchasing an additional 10,867 shares in the last quarter. Quinn Opportunity Partners LLC raised its position in AvalonBay Communities by 5.0% during the first quarter. Quinn Opportunity Partners LLC now owns 42,102 shares of the real estate investment trust’s stock valued at $7,076,000 after purchasing an additional 2,000 shares in the last quarter. Vert Asset Management LLC raised its position in AvalonBay Communities by 41.8% during the first quarter. Vert Asset Management LLC now owns 46,591 shares of the real estate investment trust’s stock valued at $7,830,000 after purchasing an additional 13,723 shares in the last quarter. Wetherby Asset Management Inc. raised its position in AvalonBay Communities by 11.4% during the first quarter. Wetherby Asset Management Inc. now owns 2,729 shares of the real estate investment trust’s stock valued at $459,000 after purchasing an additional 280 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its position in AvalonBay Communities by 9.9% during the first quarter. State of Tennessee Treasury Department now owns 234,197 shares of the real estate investment trust’s stock valued at $39,359,000 after purchasing an additional 21,049 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.
Insiders Place Their Bets
In related news, EVP Joanne M. Lockridge sold 3,331 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $186.25, for a total transaction of $620,398.75. Following the sale, the executive vice president now owns 21,558 shares of the company’s stock, valued at $4,015,177.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on AvalonBay Communities
AvalonBay Communities Trading Down 1.1 %
Shares of NYSE AVB opened at $179.28 on Friday. AvalonBay Communities, Inc. has a 1 year low of $153.07 and a 1 year high of $216.11. The stock has a market cap of $25.46 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.96 and a beta of 0.93. The firm has a 50-day moving average of $186.76 and a 200 day moving average of $179.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.49 and a quick ratio of 2.49.
AvalonBay Communities (NYSE:AVB – Get Free Report) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.01). The business had revenue of $690.86 million for the quarter, compared to the consensus estimate of $675.67 million. AvalonBay Communities had a net margin of 46.32% and a return on equity of 11.01%. During the same quarter last year, the firm posted $2.43 earnings per share. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 10.56 EPS for the current fiscal year.
About AvalonBay Communities
As of June 30, 2023, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 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 regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.
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