AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by Advisor Resource Council

Advisor Resource Council raised its position in AvalonBay Communities, Inc. (NYSE:AVB) by 36.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,645 shares of the real estate investment trust’s stock after buying an additional 439 shares during the quarter. Advisor Resource Council’s holdings in AvalonBay Communities were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of AvalonBay Communities in the 4th quarter valued at $1,271,756,000. Cbre Investment Management Listed Real Assets LLC grew its position in AvalonBay Communities by 70.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 835,133 shares of the real estate investment trust’s stock worth $156,354,000 after purchasing an additional 346,214 shares during the last quarter. Wellington Management Group LLP increased its stake in AvalonBay Communities by 17.4% in the third quarter. Wellington Management Group LLP now owns 2,298,186 shares of the real estate investment trust’s stock valued at $394,690,000 after purchasing an additional 341,332 shares during the period. Heitman Real Estate Securities LLC raised its holdings in shares of AvalonBay Communities by 307.4% in the fourth quarter. Heitman Real Estate Securities LLC now owns 351,104 shares of the real estate investment trust’s stock valued at $65,734,000 after buying an additional 264,923 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of AvalonBay Communities by 2,140.1% in the fourth quarter. Nordea Investment Management AB now owns 213,727 shares of the real estate investment trust’s stock valued at $40,347,000 after buying an additional 204,186 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVB. JPMorgan Chase & Co. raised their price target on AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Wells Fargo & Company boosted their target price on AvalonBay Communities from $210.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Truist Financial upped their price target on AvalonBay Communities from $207.00 to $213.00 and gave the stock a “hold” rating in a research note on Monday, June 24th. Mizuho lifted their price objective on shares of AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley upped their price objective on shares of AvalonBay Communities from $203.00 to $209.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $206.89.

AvalonBay Communities Trading Down 1.6 %

Shares of AVB stock opened at $200.95 on Friday. The stock has a market cap of $28.57 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $208.45. The business has a fifty day simple moving average of $197.60 and a 200-day simple moving average of $187.21.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Friday, April 26th. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($1.42). The business had revenue of $712.86 million for 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 last year, the business posted $2.57 earnings per share. On average, analysts forecast that AvalonBay Communities, Inc. will post 10.92 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $6.80 annualized dividend and a dividend yield of 3.38%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

AvalonBay Communities Company 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.