AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,174 shares of the real estate investment trust’s stock after buying an additional 3,350 shares during the period. 1832 Asset Management L.P.’s holdings in AvalonBay Communities were worth $13,070,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 2.4% in the first quarter. Principal Financial Group Inc. now owns 4,759,095 shares of the real estate investment trust’s stock valued at $883,098,000 after purchasing an additional 109,585 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of AvalonBay Communities by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after buying an additional 13,631 shares during the period. Canada Pension Plan Investment Board grew its position in shares of AvalonBay Communities by 14.4% during the first quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock worth $367,534,000 after buying an additional 249,400 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of AvalonBay Communities by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,847,511 shares of the real estate investment trust’s stock worth $342,824,000 after buying an additional 8,809 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in AvalonBay Communities by 11.9% in the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock valued at $244,776,000 after acquiring an additional 126,055 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVB. Deutsche Bank Aktiengesellschaft boosted 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. JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Scotiabank lifted their price target on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Truist Financial increased their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Thirteen 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, the stock currently has a consensus rating of “Hold” and an average price target of $223.12.

AvalonBay Communities Trading Up 1.4 %

NYSE AVB opened at $233.17 on Tuesday. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $236.26. The firm has a market cap of $33.15 billion, a PE ratio of 34.70, a P/E/G ratio of 3.41 and a beta of 0.97. The firm’s fifty day moving average is $217.61 and its two-hundred day moving average is $201.64. 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 posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.93). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The company had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. During the same period in the prior year, the company earned $2.66 earnings per share. Analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 2.92%. AvalonBay Communities’s dividend payout ratio (DPR) is 101.19%.

Insider Buying and Selling at AvalonBay Communities

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 completion of the sale, the executive now owns 65,967 shares in the company, valued at approximately $13,780,506.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities 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 directly owns 4,383 shares in the company, valued at approximately $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

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.