UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $386.32 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 678.9% in the third quarter, Holdings Channel reports. The firm owned 1,715,050 shares of the real estate investment trust’s stock after buying an additional 1,494,872 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AvalonBay Communities were worth $386,315,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of AvalonBay Communities by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock worth $504,658,000 after purchasing an additional 78,800 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AvalonBay Communities by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock worth $429,145,000 after purchasing an additional 13,631 shares during the period. Bank of New York Mellon Corp grew its stake in shares of AvalonBay Communities by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock worth $244,776,000 after purchasing an additional 126,055 shares during the period. American Century Companies Inc. grew its stake in shares of AvalonBay Communities by 6.2% during the second quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust’s stock worth $95,570,000 after purchasing an additional 26,859 shares during the period. Finally, Swiss National Bank grew its stake in shares of AvalonBay Communities by 0.4% during the third quarter. Swiss National Bank now owns 422,021 shares of the real estate investment trust’s stock worth $95,060,000 after purchasing an additional 1,500 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Piper Sandler boosted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada decreased their target price on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Finally, Scotiabank decreased their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $226.88.

AvalonBay Communities Stock Performance

AVB opened at $237.81 on Friday. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $239.29. The firm has a market capitalization of $33.83 billion, a PE ratio of 32.53, a PEG ratio of 3.40 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The business’s 50-day simple moving average is $226.74 and its 200 day simple moving average is $214.87.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the previous year, the company posted $2.66 EPS. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 2.86%. AvalonBay Communities’s payout ratio is presently 93.02%.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the transaction, the director now owns 87,239 shares of the company’s stock, valued at $20,367,689.33. The trade was a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.