Allstate Corp Acquires 4,533 Shares of AvalonBay Communities, Inc. $AVB

Key Points

• Allstate Corp increased its holdings in AvalonBay Communities, Inc. by 44.4% during the first quarter, now owning 14,743 shares valued at approximately $3.16 million.
• AvalonBay reported $2.82 earnings per share for the recent quarter, which exceeded analysts' expectations of $2.80, while forecasting FY 2025 earnings guidance of $11.190 to $11.590 EPS.
• The stock has fluctuated between a 12-month low of $180.40 and a high of $239.29, currently trading around $193.63 with an average price target of $225.64 from analysts.

Allstate Corp grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 44.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,743 shares of the real estate investment trust's stock after purchasing an additional 4,533 shares during the period. Allstate Corp's holdings in AvalonBay Communities were worth $3,164,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Proathlete Wealth Management LLC bought a new stake in shares of AvalonBay Communities during the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new stake in shares of AvalonBay Communities during the 1st quarter valued at about $33,000. Ancora Advisors LLC boosted its stake 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 purchasing an additional 150 shares in the last quarter. Keystone Global Partners LLC bought a new stake in AvalonBay Communities during the first quarter worth about $45,000. Finally, Zions Bancorporation National Association UT bought a new stake in AvalonBay Communities during the first quarter worth about $50,000. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Price Performance

Shares of AVB traded up $2.16 during mid-day trading on Wednesday, reaching $194.17. The stock had a trading volume of 613,077 shares, compared to its average volume of 823,071. The firm has a market cap of $27.65 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.77 and a beta of 0.86. AvalonBay Communities, Inc. has a 12 month low of $180.40 and a 12 month high of $239.29. The business has a fifty day moving average of $197.45 and a 200 day moving average of $204.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.02. The business had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same period in the prior year, the business posted $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. Equities analysts predict that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Edward M. Schulman sold 5,945 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the completion of the transaction, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin P. O'shea sold 6,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $207.57, for a total transaction of $1,245,420.00. Following the transaction, the chief financial officer owned 22,782 shares of the company's stock, valued at approximately $4,728,859.74. This represents a 20.85% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on AVB. Evercore ISI dropped their price objective on shares of AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating on the stock in a research note on Tuesday, August 12th. Morgan Stanley raised shares of AvalonBay Communities from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $228.00 to $225.00 in a research note on Wednesday, August 13th. UBS Group dropped their price objective on shares of AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on shares of AvalonBay Communities from $244.00 to $213.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Piper Sandler reissued a "neutral" rating and set a $200.00 price objective (down previously from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $223.43.

AvalonBay Communities 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.