Guidance Capital Inc. Acquires 283 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Guidance Capital Inc. raised its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,512 shares of the real estate investment trust’s stock after purchasing an additional 283 shares during the quarter. Guidance Capital Inc.’s holdings in AvalonBay Communities were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AVB. Pinnacle Bancorp Inc. raised its stake in shares of AvalonBay Communities by 50.0% in 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 period. Arlington Trust Co LLC purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at $45,000. Bear Mountain Capital Inc. purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at $66,000. Sunbelt Securities Inc. purchased a new stake in shares of AvalonBay Communities in the first quarter valued at $68,000. Finally, Gold Investment Management Ltd. purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at $71,000. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 1.1 %

Shares of NYSE:AVB traded up $2.27 during trading on Friday, reaching $206.89. The stock had a trading volume of 1,079,013 shares, compared to its average volume of 634,973. The firm’s 50-day simple moving average is $196.75 and its 200 day simple moving average is $186.89. The company has a market capitalization of $29.42 billion, a P/E ratio of 30.79, a PEG ratio of 3.01 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $208.45.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. The company had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. During the same quarter last year, the business earned $2.57 earnings per share. As a group, research analysts expect that AvalonBay Communities, Inc. will post 10.92 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s dividend payout ratio is presently 101.19%.

Analyst Upgrades and Downgrades

AVB has been the topic of several recent analyst reports. UBS Group raised their price target on shares of AvalonBay Communities from $199.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Mizuho raised their price target on shares of AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Piper Sandler raised their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Wells Fargo & Company raised their price target on shares of AvalonBay Communities from $210.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Barclays raised their price target on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities has a consensus rating of “Hold” and a consensus price target of $206.89.

AvalonBay Communities Company 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.