HighPoint Advisor Group LLC Purchases New Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

HighPoint Advisor Group LLC acquired a new position in AvalonBay Communities, Inc. (NYSE:AVB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,695 shares of the real estate investment trust’s stock, valued at approximately $308,000.

A number of other hedge funds have also recently modified their holdings of the business. Neo Ivy Capital Management bought a new position in AvalonBay Communities in the 3rd quarter valued at $3,610,000. Lasalle Investment Management Securities LLC lifted its holdings in AvalonBay Communities by 3.1% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after buying an additional 18,320 shares in the last quarter. Delta Investment Management LLC purchased a new stake in AvalonBay Communities in the 4th quarter valued at about $873,000. GSI Capital Advisors LLC grew its stake in AvalonBay Communities by 21.3% in the 4th quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock worth $9,506,000 after acquiring an additional 8,925 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its stake in shares of AvalonBay Communities by 2.1% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock valued at $46,561,000 after acquiring an additional 5,061 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 0.2 %

NYSE:AVB opened at $201.93 on Friday. The firm has a market capitalization of $28.71 billion, a P/E ratio of 30.05, a PEG ratio of 2.96 and a beta of 0.93. The company’s fifty day moving average price is $193.93 and its 200-day moving average price is $185.58. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07.

AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($1.42). The company had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same period last year, the firm earned $2.57 EPS. As a group, equities research analysts anticipate that AvalonBay Communities, Inc. will post 10.9 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Analyst Ratings Changes

AVB has been the topic of several research reports. Evercore ISI downgraded AvalonBay Communities from an “outperform” rating to an “inline” rating and set a $202.00 price objective on the stock. in a report on Monday, May 13th. Argus boosted their price target on shares of AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Piper Sandler upped their price target on shares of AvalonBay Communities from $207.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Scotiabank lifted their price objective on shares of AvalonBay Communities from $193.00 to $213.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Finally, Royal Bank of Canada upped their target price on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average price target of $205.89.

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.