AvalonBay Communities, Inc. $AVB Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its holdings in AvalonBay Communities, Inc. by 9.5%, owning 169,738 shares valued at approximately $36.4 million after selling 17,720 shares.
• Recent insider sales include the CFO selling 6,000 shares and EVP selling 5,945 shares, with both executives experiencing significant decreases in their ownership percentages.
• Analyst ratings for AvalonBay Communities have seen downward adjustments, with Mizuho lowering its target price to $199 from $213 and other analysts highlighting a consensus target price of $223.43.

Adage Capital Partners GP L.L.C. reduced its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,738 shares of the real estate investment trust's stock after selling 17,720 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.12% of AvalonBay Communities worth $36,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVB. Proathlete Wealth Management LLC purchased a new position in AvalonBay Communities during the first quarter valued at approximately $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of AvalonBay Communities in the first quarter worth $33,000. Ancora Advisors LLC raised its stake in 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 during the last quarter. Keystone Global Partners LLC acquired a new position in AvalonBay Communities during the 1st quarter valued at $45,000. Finally, Zions Bancorporation National Association UT bought a new stake in AvalonBay Communities in the 1st quarter valued at $50,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Stock Down 0.5%

Shares of AVB traded down $0.99 during midday trading on Monday, reaching $194.42. 585,120 shares of the stock were exchanged, compared to its average volume of 821,236. The company's 50 day moving average is $195.54 and its two-hundred day moving average is $203.41. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a 52 week low of $180.40 and a 52 week high of $239.29. The company has a market capitalization of $27.68 billion, a P/E ratio of 23.94, a PEG ratio of 2.81 and a beta of 0.87.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVB. JPMorgan Chase & Co. lowered their price objective on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research report on Tuesday, June 17th. Morgan Stanley upgraded shares of AvalonBay Communities from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $228.00 to $225.00 in a research note on Wednesday, August 13th. Piper Sandler reiterated a "neutral" rating and issued a $200.00 price objective (down previously from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Wells Fargo & Company cut their price target on shares of AvalonBay Communities from $244.00 to $213.00 and set an "overweight" rating on the stock in a report on Wednesday, August 27th. Finally, UBS Group lowered their target price 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. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $223.43.

Insiders Place Their Bets

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities stock in a transaction on Friday, June 13th. The stock was sold at an average price of $205.67, for a total value of $1,222,708.15. Following the sale, the executive vice president owned 17,617 shares in the company, valued at $3,623,288.39. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief financial officer directly owned 22,782 shares of the company's stock, valued at approximately $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. 0.48% of the stock is owned by insiders.

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.