AvalonBay Communities, Inc. (NYSE:AVB) Position Increased by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,826 shares of the real estate investment trust’s stock after acquiring an additional 6,811 shares during the period. Van ECK Associates Corp’s holdings in AvalonBay Communities were worth $15,110,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in AvalonBay Communities during the 2nd quarter worth about $32,000. Versant Capital Management Inc increased its stake in AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 169 shares during the period. Mather Group LLC. boosted its stake in shares of AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares during the period. BROOKFIELD Corp ON purchased a new position in shares of AvalonBay Communities during the 1st quarter valued at $39,000. Finally, Massmutual Trust Co. FSB ADV increased its stake 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 and hedge funds own 92.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVB. Truist Financial boosted their target price on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. BNP Paribas assumed coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Royal Bank of Canada increased 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 note on Friday, August 2nd. Finally, Evercore ISI lifted 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 note on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Trading Up 3.6 %

Shares of AvalonBay Communities stock opened at $226.38 on Wednesday. AvalonBay Communities, Inc. has a 1 year low of $164.76 and a 1 year high of $236.26. The company’s fifty day simple moving average is $225.62 and its 200-day simple moving average is $210.50. The company has a market cap of $32.20 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 3.29 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 115.06%.

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.