Zurcher Kantonalbank Zurich Cantonalbank Has $14.81 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,106 shares of the real estate investment trust’s stock after selling 3,234 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of AvalonBay Communities worth $14,810,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AVB. Pinnacle Bancorp Inc. acquired a new stake in shares of AvalonBay Communities during the third quarter worth approximately $26,000. Quarry LP increased its holdings in shares of AvalonBay Communities by 255.6% in the second quarter. Quarry LP now owns 192 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 138 shares in the last quarter. Castleview Partners LLC increased its holdings in shares of AvalonBay Communities by 1,542.9% in the third quarter. Castleview Partners LLC now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 216 shares in the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of AvalonBay Communities by 316.7% in the third quarter. Ronald Blue Trust Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 171 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new stake in AvalonBay Communities during the 4th quarter worth $45,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AVB stock opened at $182.05 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $198.65. The firm has a market cap of $25.88 billion, a P/E ratio of 27.79, a P/E/G ratio of 3.33 and a beta of 0.92. The company’s 50-day moving average price is $180.96 and its two-hundred day moving average price is $177.85.

AvalonBay Communities (NYSE:AVB) last released its earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 EPS for the quarter, missing the consensus estimate of $2.73 by ($1.03). AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. The firm had revenue of $704.71 million during the quarter, compared to the consensus estimate of $701.67 million. During the same period in the prior year, the business earned $2.59 earnings per share. On average, analysts anticipate that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.70 dividend. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.65. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 103.82%.

Insider Activity

In related news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now directly owns 31,308 shares in the company, valued at approximately $5,812,330.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Kevin P. O’shea sold 5,000 shares of AvalonBay Communities stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.65, for a total transaction of $928,250.00. Following the sale, the chief financial officer now directly owns 31,308 shares in the company, valued at approximately $5,812,330.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total transaction of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares of the company’s stock, valued at approximately $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AVB has been the subject of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $185.00 price target on shares of AvalonBay Communities in a report on Friday, February 2nd. KeyCorp reiterated a “sector weight” rating on shares of AvalonBay Communities in a report on Friday, January 5th. Wolfe Research cut shares of AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Morgan Stanley upgraded shares of AvalonBay Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $175.00 to $191.50 in a report on Monday, February 26th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, February 22nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $196.78.

About AvalonBay Communities

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.