Healthcare of Ontario Pension Plan Trust Fund Sells 93,190 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 54.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,500 shares of the real estate investment trust’s stock after selling 93,190 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.06% of AvalonBay Communities worth $16,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVB. Opal Wealth Advisors LLC bought a new position in AvalonBay Communities in the 2nd quarter worth $32,000. Versant Capital Management Inc raised its position in shares of AvalonBay Communities by 1,877.8% during the second 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 last quarter. BROOKFIELD Corp ON purchased a new position in shares of AvalonBay Communities in the first quarter worth $39,000. Pinnacle Bancorp Inc. boosted 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 worth $42,000 after acquiring an additional 75 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in AvalonBay Communities by 38.8% in the 2nd 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 owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Keri A. Shea sold 2,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company’s stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of AvalonBay Communities 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 completion of the transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVB shares. Scotiabank increased their target price on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company raised 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. BNP Paribas began coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $225.88.

AvalonBay Communities Stock Down 1.1 %

AVB stock opened at $220.70 on Friday. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26. 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 simple moving average of $220.56 and a 200-day simple moving average of $203.66. The stock has a market capitalization of $31.38 billion, a P/E ratio of 32.84, a P/E/G ratio of 3.55 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.93). The firm had revenue of $726.04 million during 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 last year, the company earned $2.66 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.01 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 Tuesday, October 15th. Stockholders 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 dividend yield of 3.08%. The ex-dividend date is Monday, September 30th. AvalonBay Communities’s dividend payout ratio is presently 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.