APG Asset Management US Inc. Sells 95,000 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

APG Asset Management US Inc. decreased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 489,923 shares of the real estate investment trust’s stock after selling 95,000 shares during the quarter. APG Asset Management US Inc. owned 0.34% of AvalonBay Communities worth $100,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities during the second quarter worth about $32,000. Versant Capital Management Inc lifted its position in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON bought a new position in shares of AvalonBay Communities in the first quarter worth about $39,000. Pinnacle Bancorp Inc. lifted its holdings in shares of AvalonBay Communities by 50.0% in the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of AvalonBay Communities by 38.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE AVB opened at $229.65 on Thursday. The company has a fifty day simple moving average of $218.11 and a 200 day simple moving average of $201.94. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $236.26. 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 company has a market cap of $32.66 billion, a P/E ratio of 34.17, a PEG ratio of 3.55 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results 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). AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. The business had revenue of $726.04 million during the quarter, compared to analyst estimates of $718.49 million. During the same period in the previous year, the business posted $2.66 EPS. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared 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. This represents a $6.80 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, September 30th. AvalonBay Communities’s payout ratio is currently 101.19%.

Insider Activity 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of the firm’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 owns 4,383 shares in the company, valued at $908,026.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AVB has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. UBS Group increased their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. 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 target price for the company. JPMorgan Chase & Co. increased their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Evercore ISI increased their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $223.12.

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.