Kentucky Retirement Systems Has $2.21 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Kentucky Retirement Systems decreased its position in AvalonBay Communities, Inc. (NYSE:AVB) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,700 shares of the real estate investment trust’s stock after selling 73 shares during the quarter. Kentucky Retirement Systems’ holdings in AvalonBay Communities were worth $2,214,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. &PARTNERS bought a new stake in AvalonBay Communities in the 2nd quarter valued at approximately $1,538,000. Lasalle Investment Management Securities LLC lifted its position in shares of AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock worth $112,827,000 after purchasing an additional 18,320 shares in the last quarter. GSI Capital Advisors LLC grew its position in AvalonBay Communities by 21.3% in the fourth quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock valued at $9,506,000 after purchasing an additional 8,925 shares in the last quarter. Hsbc Holdings PLC grew its position in AvalonBay Communities by 9.2% in the fourth quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock valued at $84,890,000 after purchasing an additional 38,235 shares in the last quarter. Finally, Sheets Smith Wealth Management acquired a new stake in AvalonBay Communities in the 1st quarter valued at $768,000. 92.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AvalonBay Communities

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVB. Wells Fargo & Company raised their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. BNP Paribas started coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. Piper Sandler upped their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Zelman & Associates upgraded shares of 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 seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $223.12.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $229.90 on Friday. The business’s 50 day moving average is $217.02 and its 200-day moving average is $201.06. The firm has a market cap of $32.69 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

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

AvalonBay Communities Company 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.