AvalonBay Communities (AVB) : Traders are bullish on AvalonBay Communities (AVB) as it has outperformed the S&P 500 by a margin of 0.59% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.51%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.12% in the last 1 week, and is up 7.39% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
AvalonBay Communities (NYSE:AVB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $184.17 and $183.96 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $185.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $185.32, notching a gain of 0.72% for the day. The total traded volume was 732,408 . The stock had closed at $184.00 on the previous day.
The stock has recorded a 20-day Moving Average of 2.17% and the 50-Day Moving Average is 4.07%. Avalonbay Communities Inc. is up 3.66% in the last 3-month period. Year-to-Date the stock performance stands at 2.17%.
AvalonBay Communities, Inc. is a real estate investment trust (REIT). The Company develops, redevelops, acquires, owns and operates multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. It focuses on metropolitan areas in these regions. The Company operates in three segments: Established Communities, Other Stabilized Communities and Development/Redevelopment Communities. It owns an ownership interest in around 252 operating apartment communities containing 74,240 apartment homes in 11 states and the District of Columbia, of which around 228 communities contain around 66,631 apartment homes; two communities containing over 618 apartment homes were held by joint ventures in which it holds an ownership interest, and approximately 22 communities contain around 6,991 apartment homes. It operates apartment communities under three core brands: Avalon, AVA and Eaves by Avalon.