Bamco Inc. NY Has $9.43 Million Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Bamco Inc. NY lowered its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 16.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,840 shares of the real estate investment trust’s stock after selling 9,985 shares during the quarter. Bamco Inc. NY’s holdings in AvalonBay Communities were worth $9,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Byrne Asset Management LLC raised its stake in AvalonBay Communities by 270.0% in the first quarter. Byrne Asset Management LLC now owns 185 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 135 shares in the last quarter. Pinnacle Bancorp Inc. raised its stake in 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 purchasing an additional 75 shares in the last quarter. Arlington Trust Co LLC acquired a new position in AvalonBay Communities in the fourth quarter valued at about $45,000. Bear Mountain Capital Inc. acquired a new position in AvalonBay Communities in the fourth quarter valued at about $66,000. Finally, Sunbelt Securities Inc. acquired a new position in AvalonBay Communities in the first quarter valued at about $68,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Trading Up 0.6 %

AVB stock traded up $1.27 during trading on Monday, hitting $207.75. The company had a trading volume of 136,356 shares, compared to its average volume of 717,336. The business has a 50-day moving average of $201.17 and a 200-day moving average of $189.43. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $211.20. The stock has a market cap of $29.54 billion, a PE ratio of 30.97, a PEG ratio of 3.01 and a beta of 0.96. 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 (NYSE:AVB) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.64 by ($1.42). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The company had revenue of $712.86 million during the quarter, compared to the consensus estimate of $706.61 million. During the same quarter in the previous year, the company earned $2.57 earnings per share. Research analysts predict that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Friday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVB shares. Argus lifted their target price on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler lifted their target price on AvalonBay Communities from $207.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Barclays lifted their target price on AvalonBay Communities from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Scotiabank lifted their target price on AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Finally, Morgan Stanley lifted their target price on AvalonBay Communities from $203.00 to $209.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of “Hold” and a consensus price target of $207.76.

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.