The State of Wyoming has significantly increased its investment in AvalonBay Communities, Inc. (NYSE: AVB), a real estate investment trust (REIT) focused on multifamily residential properties, MarketBeat Media reports.
According to a recent 13F filing with the Securities and Exchange Commission (SEC), Wyoming boosted its position in the company by 433.8% during the fourth quarter.
The state’s holdings rose from 397 to 2,119 shares after acquiring an additional 1,722 shares during the period. As of the latest filing, the position was valued at approximately $466,000.
AvalonBay Communities, a well-established REIT, owns and operates apartment communities across the United States. It has long attracted institutional investors due to its consistent performance and stable returns. Several other investors also adjusted their positions in the fourth quarter:
Ancora Advisors LLC raised its stake by 1,666.7%, now holding 159 shares.
Whipplewood Advisors LLC initiated a new position valued at approximately $36,000.
Crowley Wealth Management Inc. and Point72 Asia Singapore Pte. Ltd. also opened new positions.
CoreCap Advisors LLC increased its holding by 58.9% to 251 shares.
Overall, institutional investors now own approximately 92.61% of AvalonBay Communities’ stock.
AvalonBay has received mixed reviews from analysts in recent months. Eight analysts have issued “hold” ratings, while seven have rated the stock a “buy.” The company currently has an average rating of “Hold” and a consensus price target of $239.93, according to MarketBeat.
Recent analyst activity includes:
Zelman & Associates upgrading the stock from “neutral” to “outperform.”
Truist Financial, Evercore ISI, and Barclays raising their price targets slightly.
Royal Bank of Canada decreasing its target from $223 to $220.
As of Tuesday, AvalonBay stock opened at $208.62. The company has a 52-week trading range between $180.40 and $239.29. With a market capitalization of roughly $29.70 billion, AvalonBay trades at a price-to-earnings ratio of 27.49 and a price-to-earnings-growth (PEG) ratio of 3.11. The REIT maintains a beta of 0.86, indicating lower volatility compared to the broader market.
AvalonBay’s most recent quarterly earnings report, released April 30, showed earnings per share (EPS) of $2.83—slightly above analyst expectations of $2.80. Quarterly revenue came in at $693.43 million, falling short of the estimated $744.61 million. The company reported a net margin of 37.13% and a return on equity of 9.15%.
For the full fiscal year, AvalonBay is projected to post EPS of 11.48.
AvalonBay Communities operates through three main segments: Same Store, Other Stabilized, and Development or Redevelopment. The company focuses on high-density urban and suburban communities in major metropolitan areas, emphasizing sustainable and community-driven development.
