AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its position in AvalonBay Communities, Inc. (NYSE:AVB) by 66.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,740 shares of the real estate investment trust’s stock after selling 94,147 shares during the period. Point72 Asset Management L.P.’s holdings in AvalonBay Communities were worth $9,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AVB. Creative Planning raised its stake in AvalonBay Communities by 24.4% during the 2nd quarter. Creative Planning now owns 8,596 shares of the real estate investment trust’s stock valued at $1,778,000 after acquiring an additional 1,684 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of AvalonBay Communities by 240.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 94,884 shares of the real estate investment trust’s stock valued at $19,631,000 after purchasing an additional 67,012 shares in the last quarter. Liberty Mutual Group Asset Management Inc. lifted its holdings in AvalonBay Communities by 13.0% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 37,490 shares of the real estate investment trust’s stock worth $7,756,000 after purchasing an additional 4,319 shares during the period. MBB Public Markets I LLC bought a new position in AvalonBay Communities in the 2nd quarter valued at about $2,115,000. Finally, Eminence Capital LP increased its stake in AvalonBay Communities by 7.4% during the 2nd quarter. Eminence Capital LP now owns 141,073 shares of the real estate investment trust’s stock valued at $29,187,000 after buying an additional 9,681 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on AVB. BNP Paribas started coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Truist Financial upped their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Scotiabank raised their price objective on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Finally, Piper Sandler boosted 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. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $223.12.

AvalonBay Communities Stock Performance

Shares of NYSE AVB opened at $225.29 on Tuesday. The business’s 50-day simple moving average is $219.58 and its 200-day simple moving average is $203.14. 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 52 week low of $160.45 and a 52 week high of $236.26. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of 33.53, a P/E/G ratio of 3.55 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data 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 firm had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same quarter in the previous year, the firm posted $2.66 earnings per share. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $1.70 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. AvalonBay Communities’s payout ratio is presently 101.19%.

Insider Buying and Selling

In other AvalonBay Communities news, 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 value of $414,340.00. Following the transaction, 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 document filed with the SEC, which is accessible through this link. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities 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 owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Keri A. Shea sold 2,000 shares of the 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 completion of the transaction, 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 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.