State Street Corp Amends AVB Stake, Maintains Passive Investment

Ticker: AVB · Form: SC 13G/A · Filed: 2024-01-29T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investment

TL;DR

**State Street still owns a big chunk of AVB, but they're just holding, not trying to run the show.**

AI Summary

State Street Corp, a major financial institution, filed an amended SC 13G/A on January 29, 2024, indicating its ownership of AvalonBay Communities Inc (AVB) stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, but passive, investment in the REIT. For investors, this means a large institutional holder maintains its position, suggesting a degree of confidence in AvalonBay's long-term prospects, without any intent to influence management.

Why It Matters

This filing confirms a major institutional investor, State Street Corp, continues to hold a significant, passive stake in AvalonBay Communities Inc, signaling ongoing institutional confidence in the company.

Risk Assessment

Risk Level: low — This filing is routine for large institutional investors and indicates a passive stake, posing minimal direct risk to the company or its shareholders.

Analyst Insight

Investors should view this as a routine update from a large institutional holder, confirming their continued, passive interest in AvalonBay Communities Inc. It doesn't signal any immediate catalysts or concerns, so no urgent action is required based solely on this filing.

Key Players & Entities

Forward-Looking Statements

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, indicating a change or update to a previously reported beneficial ownership of securities.

Who is the 'Issuer' of the securities mentioned in this filing?

The 'Issuer' of the securities is AVALONBAY COMMUNITIES INC, as stated in the filing under 'NAME OF ISSUER'.

What is the CUSIP number for the securities reported?

The CUSIP number for the class of securities, identified as REIT, is 053484101, as per the filing.

When was the event that required this filing?

The date of the event which required the filing of this statement was December 31, 2023, as specified in the document.

Which rule under the Securities Exchange Act of 1934 is this Schedule 13G filed under?

This Schedule 13G is filed under Rule 13D-1 (B), as indicated by the 'X' in the appropriate box.

From the Filing

0000093751-24-000366.txt : 20240129 0000093751-24-000366.hdr.sgml : 20240129 20240129135129 ACCESSION NUMBER: 0000093751-24-000366 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AVALONBAY COMMUNITIES INC CENTRAL INDEX KEY: 0000915912 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 770404318 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43987 FILM NUMBER: 24572650 BUSINESS ADDRESS: STREET 1: 4040 WILSON BOULEVARD STREET 2: STE 1000 CITY: ARLINGTON STATE: VA ZIP: 22203 BUSINESS PHONE: 7033296300 MAIL ADDRESS: STREET 1: 4040 WILSON BOULEVARD STREET 2: STE 1000 CITY: ARLINGTON STATE: VA ZIP: 22203 FORMER COMPANY: FORMER CONFORMED NAME: AVALON BAY COMMUNITIES INC DATE OF NAME CHANGE: 19980618 FORMER COMPANY: FORMER CONFORMED NAME: BAY APARTMENT COMMUNITIES INC DATE OF NAME CHANGE: 19931208 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 Avalon_Bay_Communi.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMENDED FILING AVALONBAY COMMUNITIES INC (NAME OF ISSUER) REIT (TITLE OF CLASS OF SECURITIES) 053484101 (CUSIP NUMBER) 12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: (X) RULE 13D-1 (B) ( ) RULE 13D-1 (C) ( ) RULE 13D-1 (D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON`S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). CUSIP NO:053484101 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 5,910,237 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 9,907,086 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,927,040 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.99% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 053484101 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER AVALONBAY COMMUNITIES INC (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES BALLSTON TOWER 671 NORTH GLEBE ROAD, SUITE 80 ARLINGTON VA 22203 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, R

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