DoubleLine ETF Adviser LP Has $1.77 Million Holdings in AvalonBay Communities, Inc. $AVB

Key Points

• DoubleLine ETF Adviser LP sold 1,984 shares of AvalonBay Communities, reducing its holdings by 19.4%, leaving them with 8,247 shares worth approximately $1.77 million.
• Despite the sale, AvalonBay Communities stock is showing an increase of 1.0% with a current price of $190.91, having a market capitalization of $27.18 billion.
• The company reported quarterly earnings of $2.82 EPS, surpassing analyst expectations of $2.80 EPS, but its quarterly revenue of $689.90 million fell short of the anticipated $759.08 million.

DoubleLine ETF Adviser LP lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,247 shares of the real estate investment trust's stock after selling 1,984 shares during the quarter. DoubleLine ETF Adviser LP's holdings in AvalonBay Communities were worth $1,770,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AVB. Ancora Advisors LLC raised its stake in shares of AvalonBay Communities by 1,666.7% in 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. BNP Paribas Financial Markets raised its stake in shares of AvalonBay Communities by 17.8% in the 4th quarter. BNP Paribas Financial Markets now owns 305,729 shares of the real estate investment trust's stock valued at $67,251,000 after acquiring an additional 46,198 shares during the period. Benjamin Edwards Inc. raised its stake in shares of AvalonBay Communities by 2.3% in the 4th quarter. Benjamin Edwards Inc. now owns 6,353 shares of the real estate investment trust's stock valued at $1,398,000 after acquiring an additional 143 shares during the period. Bank of America Corp DE raised its stake in shares of AvalonBay Communities by 86.3% in the 4th quarter. Bank of America Corp DE now owns 614,118 shares of the real estate investment trust's stock valued at $135,088,000 after acquiring an additional 284,421 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of AvalonBay Communities in the 4th quarter valued at $427,000. Institutional investors and hedge funds own 92.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 12th. Evercore ISI dropped their price target 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. Wall Street Zen raised shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada dropped their price target on shares of AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Finally, Wells Fargo & Company dropped their price target 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, August 27th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $223.43.

AvalonBay Communities Price Performance

Shares of NYSE:AVB traded down $0.34 during trading on Tuesday, reaching $194.13. The company had a trading volume of 291,924 shares, compared to its average volume of 818,197. The firm's fifty day moving average is $195.36 and its 200 day moving average is $203.24. The firm has a market capitalization of $27.64 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 2.81 and a beta of 0.87. AvalonBay Communities, Inc. has a twelve month low of $180.40 and a twelve month high of $239.29. 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 issued 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. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. The company had revenue of $689.90 million during the quarter, compared to analyst estimates of $759.08 million. During the same period in the prior year, the business posted $2.77 EPS. 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, equities analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current year.

Insider Buying and Selling

In other news, CFO Kevin P. O'shea sold 6,000 shares of the stock in a transaction on Monday, June 16th. The shares were 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. This represents a 20.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the firm'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 $3,623,288.39. The trade was a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

About AvalonBay Communities

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.