AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 25.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,776 shares of the real estate investment trust’s stock after buying an additional 5,042 shares during the period. Public Sector Pension Investment Board’s holdings in AvalonBay Communities were worth $5,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of AvalonBay Communities in the first quarter valued at about $4,532,000. Atria Investments Inc lifted its position in AvalonBay Communities by 5.1% during the 1st quarter. Atria Investments Inc now owns 10,044 shares of the real estate investment trust’s stock worth $1,864,000 after acquiring an additional 490 shares during the period. Cetera Investment Advisers grew its stake in shares of AvalonBay Communities by 153.3% in the 1st quarter. Cetera Investment Advisers now owns 17,564 shares of the real estate investment trust’s stock valued at $3,259,000 after purchasing an additional 10,629 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of AvalonBay Communities by 151.5% in the first quarter. Cetera Advisors LLC now owns 10,455 shares of the real estate investment trust’s stock valued at $1,940,000 after purchasing an additional 6,298 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of AvalonBay Communities by 56.2% during the second quarter. GAMMA Investing LLC now owns 1,885 shares of the real estate investment trust’s stock worth $390,000 after purchasing an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Royal Bank of Canada cut their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Scotiabank dropped their target price on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $228.67.

Insider Buying and Selling

In related news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the transaction, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by company insiders.

AvalonBay Communities Trading Down 1.0 %

Shares of AVB opened at $235.35 on Monday. AvalonBay Communities, Inc. has a 1-year low of $169.37 and a 1-year high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $226.85 and a 200-day simple moving average of $215.37. The stock has a market cap of $33.48 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $731.67 million. During the same period last year, the firm earned $2.66 earnings per share. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is 93.02%.

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.