AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lessened its position in AvalonBay Communities, Inc. (NYSE:AVB) by 56.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 466 shares of the real estate investment trust’s stock after selling 600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AvalonBay Communities were worth $97,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of AvalonBay Communities in the fourth quarter worth about $1,271,756,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of AvalonBay Communities by 70.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock worth $156,354,000 after acquiring an additional 346,214 shares in the last quarter. Heitman Real Estate Securities LLC grew its holdings in AvalonBay Communities by 307.4% during the fourth quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock valued at $65,734,000 after purchasing an additional 264,923 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after acquiring an additional 249,400 shares during the period. Finally, SG Americas Securities LLC boosted its stake in AvalonBay Communities by 4,563.7% during the 1st quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after purchasing an additional 208,240 shares during the period. Institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the subject of several research reports. Piper Sandler increased their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho raised their price objective on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Evercore ISI reduced their price target on shares of AvalonBay Communities from $218.00 to $216.00 and set an “in-line” rating on the stock in a research report on Monday. Scotiabank boosted their target price on AvalonBay Communities from $213.00 to $218.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $211.12.

Insider Buying and Selling at AvalonBay Communities

In related news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

AvalonBay Communities Price Performance

AVB stock traded down $0.70 during midday trading on Monday, reaching $209.76. The company had a trading volume of 243,695 shares, compared to its average volume of 723,266. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $218.79. The company has a market capitalization of $29.82 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50 day moving average price of $203.98 and a 200-day moving average price of $191.40.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The company had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same period in the prior year, the firm earned $2.66 earnings per share. Equities research analysts expect that AvalonBay Communities, Inc. will post 10.97 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $6.80 annualized dividend and a yield of 3.24%. AvalonBay Communities’s payout ratio is currently 101.19%.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing 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 the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.