Altshuler Shaham Ltd Trims Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Altshuler Shaham Ltd decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 22.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,800 shares of the real estate investment trust’s stock after selling 2,486 shares during the quarter. Altshuler Shaham Ltd’s holdings in AvalonBay Communities were worth $1,821,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the second quarter worth about $32,000. Versant Capital Management Inc grew its stake in shares of AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares during the last quarter. BROOKFIELD Corp ON purchased a new stake in shares of AvalonBay Communities in the 1st quarter worth approximately $39,000. Pinnacle Bancorp Inc. increased its position in AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling

In other news, SVP Keri A. Shea sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’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 transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

AvalonBay Communities Trading Down 0.2 %

Shares of NYSE:AVB opened at $230.06 on Monday. The stock has a 50 day moving average of $217.02 and a 200 day moving average of $201.30. The company has a market cap of $32.71 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last released 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). The company had revenue of $726.04 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted $2.66 EPS. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AVB shares. JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler lifted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Scotiabank increased their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Wells Fargo & Company boosted their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AvalonBay Communities presently has a consensus rating of “Hold” and an average target price of $223.12.

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.