Squarepoint Ops LLC Sells 31,602 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Squarepoint Ops LLC cut its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 47.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,686 shares of the real estate investment trust’s stock after selling 31,602 shares during the period. Squarepoint Ops LLC’s holdings in AvalonBay Communities were worth $7,176,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities during the 2nd quarter worth $32,000. Versant Capital Management Inc lifted its position in AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 169 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities during the 1st quarter worth $39,000. Pinnacle Bancorp Inc. raised its position in shares of AvalonBay Communities by 50.0% during the first quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 73 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Price Performance

AVB opened at $225.23 on Monday. The company has a market capitalization of $32.02 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 3.55 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. The firm has a 50-day moving average price of $219.26 and a 200-day moving average price of $202.83. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26.

AvalonBay Communities (NYSE:AVB) last issued 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). The firm had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the prior year, the firm posted $2.66 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Monday, September 30th. AvalonBay Communities’s payout ratio is currently 101.19%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVB. Wells Fargo & Company upped their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Truist Financial lifted their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Royal Bank of Canada lifted their price target on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Piper Sandler boosted their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Evercore ISI boosted their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Thirteen research 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 currently has a consensus rating of “Hold” and an average target price of $223.12.

Insider Buying and Selling at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’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 transaction, the executive now 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 accessible through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the 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 of the company’s stock, valued at approximately $908,026.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

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.