Public Sector Pension Investment Board Has $4.08 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Public Sector Pension Investment Board grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 17.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,734 shares of the real estate investment trust’s stock after acquiring an additional 2,908 shares during the period. Public Sector Pension Investment Board’s holdings in AvalonBay Communities were worth $4,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in shares of 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. BROOKFIELD Corp ON bought a new stake in shares of AvalonBay Communities during the first quarter worth $39,000. Pinnacle Bancorp Inc. lifted its stake 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 acquiring an additional 75 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in 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 valued at $54,000 after acquiring an additional 73 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the transaction, the senior vice president now owns 4,383 shares in the company, valued at approximately $908,026.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the completion of the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at approximately $908,026.11. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AVB. Evercore ISI boosted their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Mizuho upped their target price 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. Piper Sandler raised their price target on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities presently has an average rating of “Hold” and an average target price of $223.12.

AvalonBay Communities Stock Down 1.4 %

NYSE:AVB opened at $226.53 on Friday. The stock has a 50-day simple moving average of $218.54 and a 200 day simple moving average of $202.13. AvalonBay Communities, Inc. has a 52-week low of $160.45 and a 52-week high of $236.26. The company has a market cap of $32.22 billion, a PE ratio of 33.71, a PEG ratio of 3.55 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The firm had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period last year, the company earned $2.66 EPS. On average, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.00%. 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.