Intech Investment Management LLC Sells 393 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Intech Investment Management LLC reduced its position in AvalonBay Communities, Inc. (NYSE:AVB) by 24.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,186 shares of the real estate investment trust’s stock after selling 393 shares during the quarter. Intech Investment Management LLC’s holdings in AvalonBay Communities were worth $245,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc boosted its stake in AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares in the last quarter. BROOKFIELD Corp ON acquired a new stake in AvalonBay Communities in the 1st quarter worth approximately $39,000. Pinnacle Bancorp Inc. boosted its stake in AvalonBay Communities by 50.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 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 legal filing with the SEC, which is available through this hyperlink. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction 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 owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of the business’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 completion of 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. 0.42% of the stock is owned by insiders.

AvalonBay Communities Price Performance

NYSE:AVB opened at $225.23 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97. The company has a 50 day moving average price of $219.26 and a 200-day moving average price of $202.59. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26.

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

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Monday, September 30th. AvalonBay Communities’s payout ratio is presently 101.19%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. UBS Group raised their price target on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Evercore ISI raised their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $223.12.

About AvalonBay Communities

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.