18,211 Shares in AvalonBay Communities, Inc. $AVB Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired 18,211 shares of AvalonBay Communities, Inc., valued at approximately $3.9 million, during the first quarter, amidst significant institutional ownership of 92.61% of the stock.
• Recent insider transactions included CFO Kevin P. O'Shea selling 6,000 shares for over $1.2 million, decreasing his ownership by 20.85%, while EVP Edward M. Schulman sold 5,945 shares for approximately $1.2 million, marking a 25.23% decrease in ownership.
• Wall Street analysts have lowered their price targets for AvalonBay Communities, with Piper Sandler setting a target of $200, while the stock currently holds an average rating of "Hold" and an consensus price target of $221.46.

SCS Capital Management LLC acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,211 shares of the real estate investment trust's stock, valued at approximately $3,908,000.

A number of other hedge funds have also modified their holdings of the business. Captrust Financial Advisors grew its stake in AvalonBay Communities by 10.2% in the 4th quarter. Captrust Financial Advisors now owns 4,838 shares of the real estate investment trust's stock worth $1,064,000 after acquiring an additional 447 shares during the period. Cetera Investment Advisers boosted its holdings in shares of AvalonBay Communities by 0.8% in the 4th quarter. Cetera Investment Advisers now owns 17,819 shares of the real estate investment trust's stock valued at $3,920,000 after purchasing an additional 133 shares during the last quarter. Cresset Asset Management LLC acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $229,000. CoreCap Advisors LLC boosted its holdings in shares of AvalonBay Communities by 58.9% in the 4th quarter. CoreCap Advisors LLC now owns 251 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 93 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of AvalonBay Communities by 8.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,094 shares of the real estate investment trust's stock valued at $901,000 after acquiring an additional 323 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AvalonBay Communities 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 value of $1,245,420.00. Following the completion of the sale, the chief financial officer directly owned 22,782 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. 0.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AVB shares. Barclays reduced 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 report on Tuesday, August 12th. UBS Group dropped their price target on shares of AvalonBay Communities from $238.00 to $216.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Mizuho reaffirmed a "neutral" rating and set a $199.00 price target (down previously from $213.00) on shares of AvalonBay Communities in a research note on Thursday, August 14th. Scotiabank dropped their price target on shares of AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 14th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $218.08.

AvalonBay Communities Price Performance

AVB stock traded down $1.45 on Friday, hitting $195.38. 545,767 shares of the company's stock traded hands, compared to its average volume of 779,975. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The stock has a market cap of $27.82 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 2.83 and a beta of 0.87. The stock has a fifty day moving average of $194.70 and a 200-day moving average of $202.75. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.71.

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 for the quarter, beating the consensus estimate of $2.80 by $0.02. The firm had revenue of $689.90 million for the quarter, compared to analyst estimates 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 business earned $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, analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal 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.