Azzad Asset Management Inc. ADV Has $2.16 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Azzad Asset Management Inc. ADV cut its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,660 shares of the real estate investment trust’s stock after selling 2,941 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in AvalonBay Communities were worth $2,164,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. West Coast Financial LLC grew its position in AvalonBay Communities by 3.9% during the first quarter. West Coast Financial LLC now owns 1,732 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 65 shares in the last quarter. First Affirmative Financial Network lifted its stake in AvalonBay Communities by 4.8% during the fourth quarter. First Affirmative Financial Network now owns 1,494 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 69 shares during the period. Pinnacle Bancorp Inc. lifted its stake in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 75 shares during the period. Czech National Bank lifted its stake in AvalonBay Communities by 0.3% during the first quarter. Czech National Bank now owns 24,959 shares of the real estate investment trust’s stock worth $4,631,000 after purchasing an additional 86 shares during the period. Finally, Wealth Alliance lifted its stake in AvalonBay Communities by 5.8% during the fourth quarter. Wealth Alliance now owns 1,595 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 88 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVB has been the subject of a number of analyst reports. Barclays raised their price target on shares of AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Argus lifted their target price on shares of AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Mizuho lifted their target price on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Wells Fargo & Company lifted their target price on shares of AvalonBay Communities from $210.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Royal Bank of Canada lifted their target price on shares of AvalonBay Communities from $191.00 to $196.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $206.89.

AvalonBay Communities Price Performance

AVB opened at $200.95 on Thursday. The company has a fifty day moving average price of $197.41 and a two-hundred day moving average price of $187.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $208.45. The firm has a market capitalization of $28.57 billion, a PE ratio of 29.90, a P/E/G ratio of 3.02 and a beta of 0.96.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results 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). AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. The firm had revenue of $712.86 million during the quarter, compared to analyst estimates of $706.61 million. During the same period last year, the firm earned $2.57 EPS. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 annualized dividend and a yield of 3.38%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

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.