Massachusetts Financial Services Co. MA Has $19.86 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Massachusetts Financial Services Co. MA decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 78.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,008 shares of the real estate investment trust’s stock after selling 355,635 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in AvalonBay Communities were worth $19,863,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AVB. &PARTNERS bought a new position in shares of AvalonBay Communities during the second quarter valued at $1,538,000. Lasalle Investment Management Securities LLC lifted its holdings in AvalonBay Communities by 3.1% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after purchasing an additional 18,320 shares during the last quarter. GSI Capital Advisors LLC boosted 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 buying an additional 8,925 shares in the last quarter. Hsbc Holdings PLC grew its stake in AvalonBay Communities by 9.2% during the fourth quarter. Hsbc Holdings PLC now owns 452,893 shares of the real estate investment trust’s stock worth $84,890,000 after buying an additional 38,235 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new stake in AvalonBay Communities during the first quarter worth about $768,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB opened at $229.90 on Friday. The company has a fifty day moving average price of $217.02 and a two-hundred day moving average price of $201.06. The firm has a market capitalization of $32.69 billion, a PE ratio of 34.21, 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 $236.26. 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 announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $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

AVB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. BNP Paribas began coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Scotiabank upped their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Finally, Truist Financial raised their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $223.12.

Insider Activity

In related news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction on 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 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 accessible through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

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.