Panagora Asset Management Inc. Has $2.34 Million Stock Holdings in AvalonBay Communities, Inc. $AVB

Key Points

• Panagora Asset Management Inc. increased its stakes in AvalonBay Communities by 41.3%, acquiring an additional 3,178 shares, bringing their total holdings to 10,880 shares valued at approximately $2.34 million.
• Multiple institutions have also made significant purchases of AvalonBay shares, with institutional investors now owning 92.61% of the company's stock.
• AvalonBay's stock has seen a price decrease of 3.5%, with the current trading price at $188.96 and major analysts providing mixed rating outlooks, mostly categorizing the stock as a "Hold".

Panagora Asset Management Inc. raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 41.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,880 shares of the real estate investment trust's stock after buying an additional 3,178 shares during the period. Panagora Asset Management Inc.'s holdings in AvalonBay Communities were worth $2,335,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Ancora Advisors LLC boosted its holdings in AvalonBay Communities by 1,666.7% in the fourth quarter. Ancora Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 150 shares during the period. BNP Paribas Financial Markets raised its position in AvalonBay Communities by 17.8% in the fourth quarter. BNP Paribas Financial Markets now owns 305,729 shares of the real estate investment trust's stock worth $67,251,000 after acquiring an additional 46,198 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in AvalonBay Communities by 2.3% during the 4th quarter. Benjamin Edwards Inc. now owns 6,353 shares of the real estate investment trust's stock worth $1,398,000 after buying an additional 143 shares during the period. Bank of America Corp DE raised its holdings in AvalonBay Communities by 86.3% during the 4th quarter. Bank of America Corp DE now owns 614,118 shares of the real estate investment trust's stock worth $135,088,000 after buying an additional 284,421 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at about $427,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVB. Piper Sandler reiterated a "neutral" rating and issued a $200.00 target price (down previously from $255.00) on shares of AvalonBay Communities in a report on Monday, August 4th. Wall Street Zen upgraded AvalonBay Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Mizuho reiterated a "neutral" rating and issued a $199.00 target price (down previously from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Morgan Stanley raised AvalonBay Communities from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $228.00 to $225.00 in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. decreased their target price on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research report on Tuesday, June 17th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $223.43.

AvalonBay Communities Price Performance

AvalonBay Communities stock traded up $2.66 during mid-day trading on Friday, hitting $195.38. 600,390 shares of the company were exchanged, compared to its average volume of 816,002. The business has a fifty day moving average of $195.54 and a 200 day moving average of $203.52. 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 company has a market capitalization of $27.82 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.81 and a beta of 0.87. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced 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 company 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 quarter in the prior year, the business 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, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current year.

Insider Transactions at AvalonBay Communities

In other news, CFO Kevin P. O'shea sold 6,000 shares of the firm's 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 sale, the chief financial officer owned 22,782 shares of the company's stock, valued at $4,728,859.74. This trade represents a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward M. Schulman sold 5,945 shares of the firm's stock in a transaction dated 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 directly owned 17,617 shares in the company, valued at approximately $3,623,288.39. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

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.