Massachusetts Financial Services Co. MA Has $19.86 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Massachusetts Financial Services Co. MA decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 78.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 96,008 shares of the real estate investment trust’s stock after selling 355,635 shares during the period. Massachusetts Financial Services Co. MA owned about 0.07% of AvalonBay Communities worth $19,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities in the second quarter worth $32,000. Versant Capital Management Inc boosted its position in AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 169 shares during the period. BROOKFIELD Corp ON acquired a new stake in AvalonBay Communities during the 1st quarter worth about $39,000. Pinnacle Bancorp Inc. grew its stake 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 acquiring an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 73 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 target price for the company. Scotiabank upped their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. UBS Group lifted their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Truist Financial upped their target price on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average target price of $223.12.

Insider Buying and Selling

In other AvalonBay Communities news, 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 value of $414,340.00. Following the completion of 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 SEC, which is available through the SEC website. In other AvalonBay Communities news, 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 value of $1,044,500.00. Following the sale, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 currently owned by insiders.

AvalonBay Communities Price Performance

Shares of AvalonBay Communities stock opened at $229.90 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $217.02 and a 200-day simple moving average of $201.06. The stock has a market capitalization of $32.69 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26.

AvalonBay Communities (NYSE:AVB) last released its 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). The firm had revenue of $726.04 million for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $2.66 EPS. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

About AvalonBay Communities

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.