12 Best Self Storage and Apartment Stocks to Invest In

2. AvalonBay Communities, Inc. (NYSE:AVB)

Number of Hedge Fund Holders: 35

AvalonBay Communities, Inc. (NYSE:AVB) is an equity real estate investment trust (REIT) that invests in apartments. The company acquires, develops, and manages 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 its expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. By the end of 2024, AvalonBay Communities, Inc. (NYSE:AVB) owned or held an ownership interest in 306 apartment communities with more than 93,000 apartment homes in 12 states and the District of Columbia. This includes 17 wholly-owned communities under development.

The company is focused on expanding its presence in high-demand metropolitan areas and its strategy includes developing new properties and acquiring existing communities in growing regions to enhance its portfolio. In Q4 2024, AvalonBay Communities, Inc. (NYSE:AVB) completed the development of 4 communities and added a total of 1,451 apartment homes to its portfolio. During the quarter, the company also began construction of 2 more wholly-owned apartment communities, which are expected to contain a total of 600 apartment homes. In addition to these developments, AvalonBay Communities, Inc. (NYSE:AVB) acquired 2 communities while selling 3 others during the quarter.