AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.2% during the second quarter, Holdings Channel reports. The firm owned 461,937 shares of the real estate investment trust’s stock after purchasing an additional 26,859 shares during the quarter. American Century Companies Inc.’s holdings in AvalonBay Communities were worth $95,570,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. AGF Management Ltd. grew its position in AvalonBay Communities by 12.7% in the second quarter. AGF Management Ltd. now owns 15,068 shares of the real estate investment trust’s stock worth $3,117,000 after acquiring an additional 1,695 shares in the last quarter. Coldstream Capital Management Inc. grew its position in AvalonBay Communities by 3.6% during the second quarter. Coldstream Capital Management Inc. now owns 11,340 shares of the real estate investment trust’s stock worth $2,346,000 after buying an additional 397 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in AvalonBay Communities by 487.8% during the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after acquiring an additional 298,322 shares during the period. Levin Capital Strategies L.P. acquired a new position in AvalonBay Communities in the 2nd quarter valued at approximately $207,000. Finally, Royal London Asset Management Ltd. lifted its position in shares of AvalonBay Communities by 6.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 67,436 shares of the real estate investment trust’s stock worth $13,952,000 after acquiring an additional 3,823 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Price Performance

AVB opened at $234.75 on Friday. The company has a fifty day moving average price of $214.23 and a two-hundred day moving average price of $199.23. The firm has a market capitalization of $33.38 billion, a PE ratio of 34.93, a P/E/G ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $234.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same quarter in the previous year, the firm posted $2.66 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Evercore ISI lifted their price objective on AvalonBay Communities from $223.00 to $225.00 and gave the company an “in-line” rating in a report on Monday, September 9th. Scotiabank increased their target price on AvalonBay Communities from $218.00 to $229.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $218.94.

AvalonBay Communities Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.