New York State Teachers Retirement System Sells 6,596 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

New York State Teachers Retirement System reduced its position in shares of AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,371 shares of the real estate investment trust’s stock after selling 6,596 shares during the quarter. New York State Teachers Retirement System owned 0.08% of AvalonBay Communities worth $24,076,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Lasalle Investment Management Securities LLC raised its holdings in shares of AvalonBay Communities by 3.1% in 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 period. Delta Investment Management LLC acquired a new position in AvalonBay Communities during the fourth quarter worth approximately $873,000. GSI Capital Advisors LLC raised its stake 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 during the period. Van ECK Associates Corp lifted its position in shares of AvalonBay Communities by 14.4% in the fourth quarter. Van ECK Associates Corp now owns 58,931 shares of the real estate investment trust’s stock valued at $11,033,000 after buying an additional 7,397 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of 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 buying an additional 38,235 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of NYSE:AVB opened at $221.73 on Friday. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $221.92. The stock has a market capitalization of $31.53 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50 day simple moving average is $207.42 and its 200 day simple moving average is $193.90.

AvalonBay Communities (NYSE:AVBGet Free Report) last issued its quarterly 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 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 quarter in the previous year, the business posted $2.66 EPS. As a group, research analysts predict that AvalonBay Communities, Inc. will post 10.97 EPS for the current fiscal year.

Insider Transactions at AvalonBay Communities

In related 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $1,044,500.00. Following the sale, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $414,340.00. Following the sale, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVB. Barclays raised their price target on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Piper Sandler lifted their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Evercore ISI decreased their price target on shares of AvalonBay Communities from $218.00 to $216.00 and set an “in-line” rating on the stock in a research note on Monday, August 12th. UBS Group raised their price objective 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, Scotiabank upped their target price on AvalonBay Communities from $213.00 to $218.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $211.12.

Get Our Latest Stock Analysis on AvalonBay Communities

AvalonBay Communities Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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