Sei Investments Co. Reduces Position in AvalonBay Communities, Inc. (NYSE:AVB)

Sei Investments Co. lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 2.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 263,123 shares of the real estate investment trust’s stock after selling 5,338 shares during the quarter. Sei Investments Co. owned about 0.19% of AvalonBay Communities worth $54,437,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Cbre Investment Management Listed Real Assets LLC raised its position in 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 buying an additional 346,214 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in AvalonBay Communities by 487.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after buying an additional 298,322 shares in the last quarter. Heitman Real Estate Securities LLC increased its holdings in shares of AvalonBay Communities by 307.4% during the 4th quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock worth $65,734,000 after buying an additional 264,923 shares during the last quarter. Canada Pension Plan Investment Board raised its position in AvalonBay Communities by 14.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after purchasing an additional 249,400 shares during the period. Finally, SG Americas Securities LLC lifted its position in AvalonBay Communities by 4,563.7% in the first quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after buying an additional 208,240 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities 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 transaction, the senior vice president now directly owns 4,383 shares in the company, valued at $908,026.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities 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 sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities 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 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 owned by insiders.

AvalonBay Communities Stock Performance

NYSE AVB opened at $230.06 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The company’s fifty day moving average is $217.02 and its two-hundred day moving average is $201.30. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $236.26. The firm has a market capitalization 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 (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same quarter in the prior year, the firm earned $2.66 EPS. Equities research analysts forecast that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVB. 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 report on Thursday, May 30th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Royal Bank of Canada boosted their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Piper Sandler raised their price target on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.