AvalonBay Communities, Inc. $AVB Shares Bought by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in AvalonBay Communities by 2.1%, acquiring an additional 2,109 shares, bringing its total ownership to 102,686 shares valued at $22.04 million.
• AvalonBay Communities reported $2.82 earnings per share for the quarter, exceeding analysts' expectations of $2.80, while the company’s revenue was $689.90 million, below estimates of $759.08 million.
• Several brokerages have revised their target prices on AvalonBay Communities, with Barclays lowering its target from $241 to $228, reflecting a cautious outlook on the stock.

The Manufacturers Life Insurance Company boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,686 shares of the real estate investment trust's stock after acquiring an additional 2,109 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of AvalonBay Communities worth $22,038,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have commented on AVB. JPMorgan Chase & Co. dropped their price objective on AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating on the stock in a report on Tuesday, June 17th. Wells Fargo & Company dropped their price objective on AvalonBay Communities from $244.00 to $213.00 and set an "overweight" rating on the stock in a report on Wednesday, August 27th. Piper Sandler reissued a "neutral" rating and issued a $200.00 price objective (down from $255.00) on shares of AvalonBay Communities in a report on Monday, August 4th. Mizuho reissued a "neutral" rating and issued a $199.00 price objective (down from $213.00) on shares of AvalonBay Communities in a report on Thursday, August 14th. Finally, Royal Bank Of Canada dropped their price objective on AvalonBay Communities from $216.00 to $211.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $223.43.

AvalonBay Communities Price Performance

Shares of NYSE:AVB traded up $2.66 during trading on Friday, reaching $195.38. The stock had a trading volume of 600,390 shares, compared to its average volume of 816,002. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.70 and a current ratio of 0.70. The business has a fifty day moving average price of $195.54 and a 200-day moving average price of $203.52. The stock has a market cap of $27.82 billion, a PE ratio of 24.06, a PEG 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 issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 9.70% and a net margin of 38.91%.During the same period in the previous 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 forecast that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AvalonBay Communities news, CFO Kevin P. O'shea sold 6,000 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 22,782 shares of the company's stock, valued at approximately $4,728,859.74. The trade was a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Edward M. Schulman sold 5,945 shares of the business's stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.45% of the company's stock.

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.