Cresset Asset Management LLC Purchases 1,497 Shares of AvalonBay Communities, Inc. $AVB

Key Points

• Cresset Asset Management LLC increased its stake in AvalonBay Communities by 144.9%, holding 2,530 shares valued at $547,000.
• Insider sales occurred recently, with EVP Edward M. Schulman and CFO Kevin P. O'Shea selling 5,945 and 6,000 shares respectively, marking decreases in their ownership of 25.23% and 20.85%.
• Analyst ratings for AvalonBay Communities are mixed, with six analysts recommending a Buy and nine giving a Hold rating, while the average price target is $225.64.

Cresset Asset Management LLC raised its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 144.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,530 shares of the real estate investment trust's stock after acquiring an additional 1,497 shares during the quarter. Cresset Asset Management LLC's holdings in AvalonBay Communities were worth $547,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ethic Inc. lifted its holdings in shares of AvalonBay Communities by 13.8% during the first quarter. Ethic Inc. now owns 15,886 shares of the real estate investment trust's stock valued at $3,408,000 after acquiring an additional 1,931 shares during the period. Aberdeen Group plc lifted its holdings in shares of AvalonBay Communities by 17.2% during the first quarter. Aberdeen Group plc now owns 381,696 shares of the real estate investment trust's stock valued at $81,689,000 after acquiring an additional 55,962 shares during the period. Horizon Investments LLC lifted its holdings in shares of AvalonBay Communities by 10.3% during the first quarter. Horizon Investments LLC now owns 9,631 shares of the real estate investment trust's stock valued at $2,067,000 after acquiring an additional 901 shares during the period. Fox Run Management L.L.C. bought a new position in shares of AvalonBay Communities during the first quarter valued at $211,000. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of AvalonBay Communities by 72.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 2,418 shares of the real estate investment trust's stock valued at $519,000 after acquiring an additional 1,019 shares during the period. 92.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of analyst reports. UBS Group cut their price objective on AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Piper Sandler restated a "neutral" rating and issued a $200.00 target price (down from $255.00) on shares of AvalonBay Communities in a research note on Monday, August 4th. Wall Street Zen upgraded AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lowered their target price on AvalonBay Communities from $244.00 to $213.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Royal Bank Of Canada lowered their target price on AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Six investment 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.com, the company presently has an average rating of "Hold" and a consensus price target of $223.43.

AvalonBay Communities Trading Down 0.2%

AVB stock traded down $0.48 during midday trading on Thursday, reaching $193.64. The stock had a trading volume of 470,440 shares, compared to its average volume of 822,137. The business has a fifty day simple moving average of $197.21 and a two-hundred day simple moving average of $204.83. The company has a quick ratio of 0.70, a current 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 23.83, a PEG ratio of 2.77 and a beta of 0.86. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.02. The firm had revenue of $689.90 million during 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. As a group, research analysts expect that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kevin P. O'shea sold 6,000 shares of AvalonBay Communities stock in a transaction dated 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 in the company, valued at $4,728,859.74. The trade was a 20.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of AvalonBay Communities stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $205.67, for a total value of $1,222,708.15. Following the transaction, the executive vice president owned 17,617 shares in the company, valued at $3,623,288.39. This trade represents a 25.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company's stock.

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.