Shares of Avalonbay Communities Inc.
rallied 1.79% to $232.39 Thursday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index
rising 1.71% to 4,438.26 and the Dow Jones Industrial Average
rising 1.56% to 34,912.56. This was the stock's third consecutive day of gains. Avalonbay Communities Inc. closed $1.09 below its 52-week high ($233.48), which the company achieved on September 3rd.
The stock outperformed some of its competitors Thursday, as Equity Residential
rose 1.44% to $85.24, UDR Inc.
rose 1.32% to $55.07, and Essex Property Trust Inc.
rose 0.51% to $334.87. Trading volume (409,941) remained 79,526 below its 50-day average volume of 489,467.