AvalonBay Communities, Inc. (NYSE:AVB) Stake Lifted by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,961 shares of the real estate investment trust’s stock after acquiring an additional 188 shares during the period. IFM Investors Pty Ltd’s holdings in AvalonBay Communities were worth $14,182,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities during the second quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings 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 buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON bought a new stake in AvalonBay Communities during the first quarter worth approximately $39,000. Pinnacle Bancorp Inc. boosted its holdings in AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 75 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Transactions at AvalonBay Communities

In other news, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction 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 transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 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 directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares in the company, valued at $908,026.11. The trade was 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 Stock Performance

Shares of AVB opened at $229.76 on Friday. The company’s fifty day moving average is $224.38 and its 200-day moving average is $207.73. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $236.26. The firm has a market cap of $32.67 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results 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 return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same quarter last year, the company earned $2.66 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 2.96%. AvalonBay Communities’s dividend payout ratio (DPR) is 101.19%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank raised their target price on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company upped their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. upped their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, BNP Paribas began coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $225.88.

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.