Avalonbay Communities Inc.’s filing revealed that its Chief Financial Officer O’Shea Kevin P. unloaded Company’s shares for reported $0.93 million on Mar 08 ’24. In the deal valued at $185.65 per share,5,000 shares were sold. As a result of this transaction, O’Shea Kevin P. now holds 31,308 shares worth roughly $5.83 million.
Then, Lockridge Joanne M sold 1,750 shares, generating $323,925 in total proceeds. Upon selling the shares at $185.10, the Executive Vice President now owns 21,907 shares.
Before that, Lockridge Joanne M sold 3,331 shares. Avalonbay Communities Inc. shares valued at $620,399 were divested by the Executive Vice President at a price of $186.25 per share. As a result of the transaction, Lockridge Joanne M now holds 21,558 shares, worth roughly $4.01 million.
Morgan Stanley upgraded its Avalonbay Communities Inc. [AVB] rating to an Overweight from a an Equal-weight in a research note published on February 26, 2024; the price target was increased to $191.50 from $175. Barclays also remained covering AVB and has increased its forecast on February 20, 2024 with a “an Overweight” recommendation from previously “an Equal weight” rating. Deutsche Bank started covering the stock on January 30, 2024. It rated AVB as “a Buy”.
Price Performance Review of AVB
On Monday, Avalonbay Communities Inc. [NYSE:AVB] saw its stock jump 2.82% to $186.18. Over the last five days, the stock has gained 2.68%. Avalonbay Communities Inc. shares have fallen nearly -0.56% since the year began. Nevertheless, the stocks have risen 11.94% over the past one year. While a 52-week high of $198.65 was reached on 01/02/24, a 52-week low of $160.45 was recorded on 02/13/24. SMA at 50 days reached $179.50, while 200 days put it at $180.00. A total of 0.64 million shares were traded, compared to the trading of 40789.0 shares in the previous session.
Levels Of Support And Resistance For AVB Stock
The 24-hour chart illustrates a support level at 183.08, which if violated will result in even more drops to 179.98. On the upside, there is a resistance level at 187.99. A further resistance level may holdings at 189.81. The Relative Strength Index (RSI) on the 14-day chart is 59.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 6.42%. Stochastics %K at 49.57% indicates the stock is a holding.
How much short interest is there in Avalonbay Communities Inc.?
A steep rise in short interest was recorded in Avalonbay Communities Inc. stocks on Mar 15, 2024, dropping by -0.13 million shares to a total of 1.64 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.77 million shares. There was a decline of -7.93%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.60% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.15.
