Exchange Traded Concepts LLC Decreases Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Exchange Traded Concepts LLC decreased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,495 shares of the real estate investment trust’s stock after selling 178 shares during the period. Exchange Traded Concepts LLC’s holdings in AvalonBay Communities were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AVB. &PARTNERS bought a new stake in AvalonBay Communities during the second quarter valued at about $1,538,000. Sheets Smith Wealth Management purchased a new stake in AvalonBay Communities in the first quarter worth $768,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in 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 purchasing an additional 4,138 shares during the period. BNP Paribas Financial Markets increased its stake in AvalonBay Communities by 86.7% in 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 purchasing an additional 109,028 shares during the period. Finally, Swedbank AB bought a new position in shares of AvalonBay Communities during the 1st quarter worth $4,532,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the topic of a number of recent research reports. BNP Paribas began coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective on the stock. Royal Bank of Canada raised their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI boosted their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Piper Sandler boosted their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $225.88.

Insider Activity

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

AvalonBay Communities Price Performance

Shares of NYSE:AVB opened at $227.13 on Friday. The stock has a fifty day moving average of $223.51 and a 200-day moving average of $206.59. The company has a market capitalization of $32.29 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $236.26. 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 (NYSE:AVB) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The business 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 previous year, the company earned $2.66 EPS. As a group, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s payout ratio is 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.