Norinchukin Bank The Acquires 1,322 Shares of AvalonBay Communities, Inc. $AVB

Key Points

• Norinchukin Bank The increased its holdings in AvalonBay Communities, Inc. by 10.3%, bringing its total value to approximately $3.05 million as of the end of the recent quarter.
• In addition to Norinchukin Bank, other institutional investors like Price T Rowe Associates and Capital Analysts LLC also boosted their stakes in AvalonBay Communities during the first quarter of 2023.
• Analysts have recently lowered price targets for AvalonBay Communities, with UBS Group setting a target of $216.00, reflecting a shift to a "neutral" rating.

Norinchukin Bank The boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,194 shares of the real estate investment trust's stock after acquiring an additional 1,322 shares during the quarter. Norinchukin Bank The's holdings in AvalonBay Communities were worth $3,046,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Baker Tilly Wealth Management LLC raised its holdings in AvalonBay Communities by 1.8% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 3,247 shares of the real estate investment trust's stock valued at $697,000 after buying an additional 58 shares during the period. Golden State Equity Partners boosted its holdings in AvalonBay Communities by 3.7% in the first quarter. Golden State Equity Partners now owns 1,661 shares of the real estate investment trust's stock valued at $356,000 after purchasing an additional 60 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in AvalonBay Communities by 1.0% in the first quarter. Benjamin Edwards Inc. now owns 6,417 shares of the real estate investment trust's stock valued at $1,377,000 after purchasing an additional 64 shares in the last quarter. Roundview Capital LLC boosted its holdings in shares of AvalonBay Communities by 1.7% in the first quarter. Roundview Capital LLC now owns 3,950 shares of the real estate investment trust's stock valued at $848,000 after acquiring an additional 66 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AvalonBay Communities by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,953 shares of the real estate investment trust's stock valued at $5,929,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 92.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Scotiabank dropped their price target on AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating for the company in a research report on Thursday, August 14th. Evercore ISI dropped their price objective on AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating on the stock in a report on Tuesday, August 12th. Mizuho reiterated a "neutral" rating and issued a $199.00 price target (down from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Morgan Stanley upgraded AvalonBay Communities from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $228.00 to $225.00 in a research note on Wednesday, August 13th. Finally, Wall Street Zen raised AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of "Hold" and an average target price of $223.43.

Insider Activity

In other news, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin P. O'shea sold 6,000 shares of the firm's stock in a transaction on 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 owned 22,782 shares in the company, valued at approximately $4,728,859.74. This trade represents a 20.85% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

AvalonBay Communities Stock Performance

Shares of AVB stock traded up $0.91 during trading on Wednesday, reaching $192.92. The company had a trading volume of 143,542 shares, compared to its average volume of 821,560. The firm's 50 day simple moving average is $197.45 and its two-hundred day simple moving average is $204.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.70. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The company has a market capitalization of $27.47 billion, a PE ratio of 23.74, a PEG ratio of 2.77 and a beta of 0.86.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.02. The business had revenue of $689.90 million for the quarter, compared to analysts' expectations 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 in the previous 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. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

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.