Real Estate Sector Ideas

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>>> AvalonBay Communities, Inc. (NYSE:AVB) -- Average Analyst Price Target: $194.70

https://finance.yahoo.com/news/14-best-real-estate-realty-131053697.html

Upside Potential: 9.3%

Number of Hedge Fund Holders: 29

AvalonBay Communities, Inc. (NYSE:AVB) had 29 hedge funds long its stock in the fourth quarter, with a total stake value of $234.7 million.

Morgan Stanley upgraded AvalonBay Communities, Inc. (NYSE:AVB) from Equal Weight to Overweight on February 26, alongside placing a $191.5 piece target on the stock.

AvalonBay Communities, Inc. (NYSE:AVB) is a multi-family residential REIT based in Arlington, Virginia. The company owns or holds a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia.

At the end of the fourth quarter, AEW Capital Management was the largest shareholder in AvalonBay Communities, Inc. (NYSE:AVB), holding 769,788 shares in the company.

Baron Funds mentioned AvalonBay Communities, Inc. (NYSE:AVB) in its third-quarter 2023 investor letter:

“In the third quarter, we maintained our exposure to apartment REIT AvalonBay Communities, Inc. (NYSE:AVB). We believe public valuations remain discounted relative to the private market. Tenant demand remains healthy and rent growth has modestly improved since the first quarter of 2023. Rental apartments continue to benefit from the current homeownership affordability challenges. Multi-family REITs provide partial inflation protection to offset rising costs due to leases that can be reset at higher rents, in some cases, annually. We continue to closely monitor new supply deliveries and job losses in key geographic markets.”

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