AvalonBay Communities, Inc. (NYSE:AVB) Holdings Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 346,883 shares of the real estate investment trust’s stock after selling 4,298 shares during the quarter. Thrivent Financial for Lutherans owned about 0.24% of AvalonBay Communities worth $71,767,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SYSTM Wealth Solutions LLC boosted its position in AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 49 shares during the period. Checchi Capital Advisers LLC raised its stake in AvalonBay Communities by 4.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 59 shares during the period. Mechanics Bank Trust Department grew its holdings in shares of AvalonBay Communities by 0.3% during the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 60 shares in the last quarter. SVB Wealth LLC increased its holdings in shares of AvalonBay Communities by 1.1% in the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after purchasing an additional 62 shares during the period. Finally, West Coast Financial LLC lifted its position in AvalonBay Communities by 3.9% in the 1st quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 65 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AVB shares. Mizuho lifted their price objective on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Piper Sandler increased their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Scotiabank lifted their target price on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, Evercore ISI upped their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $223.12.

AvalonBay Communities Stock Down 0.2 %

NYSE:AVB opened at $230.06 on Friday. The company has a market cap of $32.71 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $236.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. The stock’s fifty day moving average price is $217.02 and its two-hundred day moving average price is $201.18.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. During the same quarter in the previous year, the firm posted $2.66 EPS. On average, analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities 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.