Mutual of America Capital Management LLC Lowers Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Mutual of America Capital Management LLC reduced its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,907 shares of the real estate investment trust’s stock after selling 692 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AvalonBay Communities were worth $3,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. L & S Advisors Inc purchased a new position in shares of AvalonBay Communities during the 2nd quarter worth about $7,388,000. Sargent Investment Group LLC acquired a new position in AvalonBay Communities during the second quarter worth approximately $212,000. Edgestream Partners L.P. raised its stake in AvalonBay Communities by 64.6% during the second quarter. Edgestream Partners L.P. now owns 17,505 shares of the real estate investment trust’s stock worth $3,622,000 after purchasing an additional 6,869 shares during the period. Dimensional Fund Advisors LP raised its stake in AvalonBay Communities by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after purchasing an additional 13,631 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of AvalonBay Communities by 11.7% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 47,700 shares of the real estate investment trust’s stock valued at $9,869,000 after purchasing an additional 5,000 shares during the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AvalonBay Communities

In other news, 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 of the company’s stock, valued at approximately $908,026.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

AvalonBay Communities Stock Down 0.2 %

Shares of NYSE AVB opened at $230.06 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $236.26. The stock’s 50-day simple moving average is $217.02 and its 200-day simple moving average is $201.30. The firm has a market cap of $32.71 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 3.41 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The business had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the previous year, the company earned $2.66 earnings per share. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Piper Sandler increased their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. UBS Group boosted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average 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.