AvalonBay Communities, Inc. $AVB Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its stake in AvalonBay Communities by 5.0% during the first quarter, now owning 156,689 shares valued at approximately $33.6 million.
• AvalonBay reported Q2 earnings of $2.82 EPS, surpassing estimates of $2.80, but fell short on revenue with $689.9 million compared to expectations of $759.08 million.
• Research analysts' sentiment on AvalonBay is mixed, with six analysts rating it as a Buy and nine as a Hold, with an average target price of $223.43.

Royal Bank of Canada decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 156,689 shares of the real estate investment trust's stock after selling 8,312 shares during the period. Royal Bank of Canada owned approximately 0.11% of AvalonBay Communities worth $33,629,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Proathlete Wealth Management LLC purchased a new stake in AvalonBay Communities in the first quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the first quarter worth about $33,000. Keystone Global Partners LLC purchased a new position in shares of AvalonBay Communities during the first quarter valued at approximately $45,000. Zions Bancorporation National Association UT purchased a new position in shares of AvalonBay Communities during the first quarter valued at approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AvalonBay Communities during the fourth quarter valued at approximately $53,000. Institutional investors own 92.61% of the company's stock.

Insider Activity

In other AvalonBay Communities news, 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 transaction of $1,222,708.15. Following the completion of the sale, the executive vice president directly owned 17,617 shares in the company, valued at $3,623,288.39. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin P. O'shea sold 6,000 shares of AvalonBay Communities stock in a transaction that occurred 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on AVB. Evercore ISI cut their target price on shares of AvalonBay Communities from $216.00 to $212.00 and set an "in-line" rating for the company in a research report on Tuesday, August 12th. Morgan Stanley raised shares of AvalonBay Communities from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $228.00 to $225.00 in a research report on Wednesday, August 13th. Barclays cut their price objective on shares of AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Wells Fargo & Company cut their price objective on shares of AvalonBay Communities from $244.00 to $213.00 and set an "overweight" rating for the company in a research report on Wednesday, August 27th. Finally, Royal Bank Of Canada lowered their target price 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. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, AvalonBay Communities presently has a consensus rating of "Hold" and an average target price of $223.43.

AvalonBay Communities Price Performance

Shares of NYSE AVB traded up $0.68 during mid-day trading on Tuesday, hitting $195.15. 673,674 shares of the company's stock traded hands, compared to its average volume of 798,677. The company has a market capitalization of $27.79 billion, a P/E ratio of 24.03, a PEG ratio of 2.80 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. The company's 50-day moving average is $195.19 and its two-hundred day moving average is $203.18. 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 (NYSE:AVB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.02. The company had revenue of $689.90 million during the quarter, compared to analysts' expectations of $759.08 million. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. During the same quarter in the prior year, the company 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. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities 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.