129,881 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP bought a new stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 129,881 shares of the real estate investment trust’s stock, valued at approximately $29,256,000. Artemis Investment Management LLP owned about 0.09% of AvalonBay Communities at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AVB. &PARTNERS acquired a new position in AvalonBay Communities in the 2nd quarter valued at $1,538,000. Sheets Smith Wealth Management acquired a new stake in shares of AvalonBay Communities in the first quarter valued at about $768,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of AvalonBay Communities by 14.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust’s stock worth $6,115,000 after buying an additional 4,138 shares in the last quarter. BNP Paribas Financial Markets boosted its position in AvalonBay Communities by 86.7% during the first quarter. BNP Paribas Financial Markets now owns 234,743 shares of the real estate investment trust’s stock worth $43,559,000 after acquiring an additional 109,028 shares during the last quarter. Finally, Swedbank AB purchased a new stake in AvalonBay Communities during the 1st quarter valued at about $4,532,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AVB shares. BNP Paribas initiated coverage on shares of AvalonBay Communities in a report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. Wells Fargo & Company increased their price target on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their target price on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Stock Up 0.2 %

AvalonBay Communities stock opened at $218.50 on Wednesday. The company has a market capitalization of $31.07 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $236.26. The firm has a 50 day moving average price of $221.04 and a 200 day moving average price of $204.46.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same quarter in the prior year, the firm posted $2.66 EPS. Research analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $1.70 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.11%. AvalonBay Communities’s dividend payout ratio (DPR) is 101.19%.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the transaction, the executive now owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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.