AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 29.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,800 shares of the real estate investment trust's stock after purchasing an additional 6,500 shares during the period. Intact Investment Management Inc.'s holdings in AvalonBay Communities were worth $5,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AVB. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities in the second quarter worth about $32,000. Versant Capital Management Inc increased its stake in AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock worth $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in AvalonBay Communities during the 1st quarter worth approximately $39,000. Pinnacle Bancorp Inc. raised its holdings in shares of AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Trading Up 1.2 %

Shares of NYSE:AVB traded up $2.58 during midday trading on Friday, reaching $225.73. 875,738 shares of the company's stock were exchanged, compared to its average volume of 658,231. The stock has a market cap of $32.10 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 3.35 and a beta of 0.96. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $226.18. The firm's 50 day simple moving average is $209.44 and its two-hundred day simple moving average is $195.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share 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 company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same quarter in the prior year, the business earned $2.66 earnings per share. As a group, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11 EPS for the current fiscal year.

Insider Buying and Selling at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available through this hyperlink. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company's 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 SEC, which is available through this link. Also, SVP Keri A. Shea sold 2,000 shares of the firm'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 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 corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on AVB shares. Truist Financial boosted their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Wells Fargo & Company increased their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, August 26th. Mizuho boosted their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a "neutral" rating in a research report on Thursday, May 30th. Royal Bank of Canada increased their price objective on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a "sector perform" rating in a report on Friday, August 2nd. Finally, Scotiabank raised their target price on shares of AvalonBay Communities from $218.00 to $229.00 and gave the stock a "sector perform" rating in a research note on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $214.47.

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.