Edgestream Partners L.P. Increases Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Edgestream Partners L.P. increased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 199.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,636 shares of the real estate investment trust’s stock after purchasing an additional 7,088 shares during the period. Edgestream Partners L.P.’s holdings in AvalonBay Communities were worth $1,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVB. Norges Bank purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at $1,271,756,000. Cbre Investment Management Listed Real Assets LLC grew its position in shares of AvalonBay Communities by 70.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock valued at $156,354,000 after purchasing an additional 346,214 shares during the period. Heitman Real Estate Securities LLC grew its position in shares of AvalonBay Communities by 307.4% in the fourth quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock valued at $65,734,000 after purchasing an additional 264,923 shares during the period. SG Americas Securities LLC grew its position in shares of AvalonBay Communities by 4,563.7% in the first quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after purchasing an additional 208,240 shares during the period. Finally, Apexium Financial LP purchased a new stake in shares of AvalonBay Communities in the fourth quarter valued at $20,609,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Truist Financial lifted their target price on AvalonBay Communities from $207.00 to $213.00 and gave the company a “hold” rating in a report on Monday, June 24th. Evercore ISI lifted their target price on AvalonBay Communities from $205.00 to $207.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. UBS Group lifted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on AvalonBay Communities from $194.00 to $212.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, AvalonBay Communities has an average rating of “Hold” and a consensus target price of $207.76.

AvalonBay Communities Stock Up 0.9 %

Shares of NYSE AVB traded up $1.90 during midday trading on Monday, reaching $209.27. 434,950 shares of the company’s stock were exchanged, compared to its average volume of 730,161. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $211.20. The stock has a market capitalization of $29.76 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The business’s fifty day moving average price is $200.31 and its two-hundred day moving average price is $188.61.

AvalonBay Communities (NYSE:AVB) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (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 business had revenue of $712.86 million for the quarter, compared to analysts’ expectations of $706.61 million. During the same period in the previous year, the firm posted $2.57 earnings per share. Analysts forecast that AvalonBay Communities, Inc. will post 10.92 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, June 28th. AvalonBay Communities’s payout ratio is 101.19%.

About AvalonBay Communities

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.