Cypress Capital Group Trims Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Cypress Capital Group trimmed its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,597 shares of the real estate investment trust’s stock after selling 79 shares during the period. Cypress Capital Group’s holdings in AvalonBay Communities were worth $330,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVB. Raymond James Trust N.A. boosted its holdings in shares of AvalonBay Communities by 4.7% during the second quarter. Raymond James Trust N.A. now owns 1,955 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 87 shares during the last quarter. Family Firm Inc. purchased a new stake in AvalonBay Communities during the 2nd quarter worth approximately $166,000. Quotient Wealth Partners LLC increased its holdings in shares of AvalonBay Communities by 123.4% in the 2nd quarter. Quotient Wealth Partners LLC now owns 2,750 shares of the real estate investment trust’s stock valued at $569,000 after acquiring an additional 1,519 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of AvalonBay Communities by 24.0% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 181,493 shares of the real estate investment trust’s stock valued at $37,549,000 after acquiring an additional 35,077 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its position in AvalonBay Communities by 15.5% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 1,593 shares of the real estate investment trust’s stock valued at $330,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Buying and Selling

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities stock in a transaction 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 transaction, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities 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 sale, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction 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 sale, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

AvalonBay Communities Trading Down 0.3 %

AVB traded down $0.67 during midday trading on Monday, hitting $221.06. 55,368 shares of the company were exchanged, compared to its average volume of 715,665. The firm has a market capitalization of $31.43 billion, a P/E ratio of 32.87, a P/E/G ratio of 3.09 and a beta of 0.96. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $222.97. The firm’s 50 day moving average price is $207.42 and its 200-day moving average price is $194.19. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 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 firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the previous year, the company posted $2.66 EPS. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 10.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AVB has been the subject of a number of analyst reports. Piper Sandler boosted their price target on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. UBS Group boosted their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Barclays boosted their target price on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Finally, Evercore ISI reduced their target price on AvalonBay Communities from $218.00 to $216.00 and set an “in-line” rating for the company in a report on Monday, August 12th. Twelve investment analysts have rated the stock with a hold rating and seven have given 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 $213.06.

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.