Rafferty Asset Management LLC Trims Position in AvalonBay Communities, Inc. $AVB

Key Points

• Rafferty Asset Management LLC has reduced its stake in AvalonBay Communities, Inc. by 17.1%, selling 3,201 shares, resulting in a total ownership of 15,492 shares valued at approximately $3.3 million.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc. MD, have increased their holdings in AvalonBay Communities, reflecting a strong institutional ownership of 92.61% in the company.
• Analysts have recently cut their price targets for AvalonBay Communities, with a consensus target price now at $223.43, indicating a shift in market expectations for the stock.

Rafferty Asset Management LLC lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 17.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,492 shares of the real estate investment trust's stock after selling 3,201 shares during the quarter. Rafferty Asset Management LLC's holdings in AvalonBay Communities were worth $3,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in AvalonBay Communities by 0.4% in the first quarter. Vanguard Group Inc. now owns 22,672,682 shares of the real estate investment trust's stock worth $4,866,011,000 after purchasing an additional 96,790 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in AvalonBay Communities by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,520,036 shares of the real estate investment trust's stock worth $1,184,712,000 after purchasing an additional 367,853 shares during the period. JPMorgan Chase & Co. grew its holdings in AvalonBay Communities by 3.9% in the first quarter. JPMorgan Chase & Co. now owns 3,814,430 shares of the real estate investment trust's stock worth $818,653,000 after purchasing an additional 143,646 shares during the period. Northern Trust Corp grew its holdings in AvalonBay Communities by 5.2% in the first quarter. Northern Trust Corp now owns 2,779,484 shares of the real estate investment trust's stock worth $596,533,000 after purchasing an additional 136,741 shares during the period. Finally, Wellington Management Group LLP grew its holdings in AvalonBay Communities by 4.2% in the first quarter. Wellington Management Group LLP now owns 2,594,073 shares of the real estate investment trust's stock worth $556,740,000 after purchasing an additional 105,098 shares during the period. Hedge funds and other institutional investors own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

AVB traded up $1.81 during trading on Thursday, hitting $192.88. The company's stock had a trading volume of 669,232 shares, compared to its average volume of 832,460. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a one year low of $180.40 and a one year high of $239.29. The firm has a market cap of $27.46 billion, a PE ratio of 23.75, a P/E/G ratio of 2.75 and a beta of 0.87. The business's 50 day simple moving average is $195.72 and its 200-day simple moving average is $203.77.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AVB shares. Scotiabank cut their price objective on shares of AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating on the stock in a report on Thursday, August 14th. Morgan Stanley upgraded shares of AvalonBay Communities from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $228.00 to $225.00 in a report on Wednesday, August 13th. Wall Street Zen upgraded shares of AvalonBay Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a report on Tuesday, June 17th. Finally, Barclays cut their price target on shares of AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $223.43.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of the stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin P. O'shea sold 6,000 shares of the stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company 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.