Creative Planning Purchases 408 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Creative Planning boosted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,004 shares of the real estate investment trust’s stock after acquiring an additional 408 shares during the quarter. Creative Planning’s holdings in AvalonBay Communities were worth $2,028,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its position in AvalonBay Communities by 487.8% during the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock worth $74,372,000 after acquiring an additional 298,322 shares during the period. Canada Pension Plan Investment Board grew its stake in 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. SG Americas Securities LLC grew its stake in AvalonBay Communities by 4,563.7% during the first quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock worth $39,488,000 after buying an additional 208,240 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in AvalonBay Communities during the third quarter worth about $29,256,000. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at approximately $26,755,000. 92.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVB. Truist Financial raised their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their target price on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. UBS Group raised their price target 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 began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Price Performance

AVB opened at $226.35 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $32.18 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 3.33 and a beta of 0.97. The firm’s fifty day moving average price is $224.90 and its two-hundred day moving average price is $208.45. AvalonBay Communities, Inc. has a 1 year low of $160.45 and a 1 year high of $236.26.

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

AvalonBay Communities Announces Dividend

The business 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is currently 101.19%.

Insider Activity at AvalonBay Communities

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

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.