AvalonBay Communities, Inc. $AVB Shares Acquired by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in AvalonBay Communities by 13.1%, owning 72,770 shares worth approximately $15.6 million as of the latest reporting period.
• AvalonBay reported earnings of $2.82 per share for the latest quarter, slightly exceeding the consensus estimate, with a revenue of $689.9 million.
• Analysts have issued mixed ratings on AvalonBay, with six maintaining a Buy rating and nine assigning a Hold rating, while price targets range from $199 to $241.

1832 Asset Management L.P. lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 13.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,770 shares of the real estate investment trust's stock after acquiring an additional 8,410 shares during the period. 1832 Asset Management L.P. owned 0.05% of AvalonBay Communities worth $15,618,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Proathlete Wealth Management LLC purchased a new stake in AvalonBay Communities during the 1st quarter valued at approximately $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities during the 1st quarter worth $33,000. Ancora Advisors LLC lifted its position in shares of AvalonBay Communities by 1,666.7% during the 4th quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 150 shares during the period. Keystone Global Partners LLC acquired a new position in AvalonBay Communities during the first quarter worth $45,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of AvalonBay Communities in the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Up 1.7%

Shares of NYSE:AVB opened at $193.6250 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.77 and a beta of 0.86. The stock's 50-day moving average price is $198.02 and its two-hundred day moving average price is $205.30. AvalonBay Communities, Inc. has a 12-month low of $180.40 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.02. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. The business had revenue of $689.90 million for the quarter, compared to analysts' expectations of $759.08 million. During the same period last year, the company earned $2.77 earnings per share. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. On average, research analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the completion of the sale, the executive vice president owned 17,617 shares of the company's stock, valued at approximately $3,623,288.39. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $207.57, for a total value of $1,245,420.00. Following the sale, the chief financial officer owned 22,782 shares of the company's stock, valued at $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVB. Mizuho reissued a "neutral" rating and set a $199.00 price objective (down from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Scotiabank lowered their target price on AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating on the stock in a report on Thursday, August 14th. Wall Street Zen raised AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays dropped their price objective on AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Finally, Piper Sandler restated a "neutral" rating and issued a $200.00 target price (down from $255.00) on shares of AvalonBay Communities in a report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $225.64.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.