AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 3.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,776 shares of the real estate investment trust’s stock after purchasing an additional 263 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AvalonBay Communities were worth $1,752,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities in the 2nd quarter valued at about $32,000. Versant Capital Management Inc lifted its holdings in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 169 shares in the last quarter. Mather Group LLC. grew its position in shares of AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 56 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in shares of AvalonBay Communities during the 1st quarter worth approximately $39,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AVB has been the topic of a number of analyst reports. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Truist Financial lifted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. UBS Group upped their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Eleven 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 a consensus rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Trading Up 0.1 %

Shares of AVB opened at $227.76 on Thursday. AvalonBay Communities, Inc. has a twelve month low of $161.85 and a twelve month high of $236.26. The firm has a market capitalization of $32.39 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $225.59 and its 200 day simple moving average is $209.20.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter last year, the business earned $2.66 earnings per share. On average, equities research analysts forecast 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 was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 2.99%. AvalonBay Communities’s payout ratio is 115.06%.

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.