AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd grew its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,753 shares of the real estate investment trust’s stock after acquiring an additional 99 shares during the quarter. Gulf International Bank UK Ltd’s holdings in AvalonBay Communities were worth $2,180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in AvalonBay Communities in the 3rd quarter worth approximately $3,610,000. Lasalle Investment Management Securities LLC increased its holdings in AvalonBay Communities by 3.1% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock worth $112,827,000 after buying an additional 18,320 shares during the period. Delta Investment Management LLC acquired a new position in AvalonBay Communities in the 4th quarter worth approximately $873,000. GSI Capital Advisors LLC increased its holdings in AvalonBay Communities by 21.3% in the 4th quarter. GSI Capital Advisors LLC now owns 50,774 shares of the real estate investment trust’s stock worth $9,506,000 after buying an additional 8,925 shares during the period. Finally, Ferguson Wellman Capital Management Inc. increased its holdings in AvalonBay Communities by 2.1% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 248,699 shares of the real estate investment trust’s stock worth $46,561,000 after buying an additional 5,061 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AVB. Truist Financial upped their price objective on AvalonBay Communities from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Friday, May 24th. UBS Group upped their price objective on AvalonBay Communities from $199.00 to $210.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Royal Bank of Canada upped their price objective on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Barclays upped their price objective on AvalonBay Communities from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. upped their price objective on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $205.89.

AvalonBay Communities Trading Up 1.0 %

Shares of AVB stock opened at $203.89 on Friday. The stock’s fifty day moving average is $194.33 and its two-hundred day moving average is $185.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $28.99 billion, a P/E ratio of 30.34, a PEG ratio of 2.95 and a beta of 0.93. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $204.21.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The firm had revenue of $712.86 million during the quarter, compared to analysts’ expectations of $706.61 million. AvalonBay Communities had a net margin of 34.05% and a return on equity of 8.12%. During the same quarter in the previous year, the business posted $2.57 EPS. Research analysts expect that AvalonBay Communities, Inc. will post 10.91 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 dividend on an annualized basis and a yield of 3.34%. AvalonBay Communities’s payout ratio is currently 101.19%.

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.