Global X Japan Co. Ltd. Cuts Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Global X Japan Co. Ltd. lessened its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 21.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 264 shares of the real estate investment trust’s stock after selling 74 shares during the period. Global X Japan Co. Ltd.’s holdings in AvalonBay Communities were worth $59,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Daiwa Securities Group Inc. boosted its holdings in AvalonBay Communities by 487.8% in the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust’s stock valued at $74,372,000 after purchasing an additional 298,322 shares during the period. Canada Pension Plan Investment Board raised its position in AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust’s stock valued at $367,534,000 after purchasing an additional 249,400 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of AvalonBay Communities by 4,563.7% in the 1st quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust’s stock valued at $39,488,000 after buying an additional 208,240 shares during the period. Artemis Investment Management LLP acquired a new position in shares of AvalonBay Communities during the third quarter worth about $29,256,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of AvalonBay Communities during the second quarter worth approximately $26,755,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial boosted their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. BNP Paribas began coverage on AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target on the stock. Scotiabank upped their price objective on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada raised their target price 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. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $225.88.

Insider Transactions at AvalonBay Communities

In related news, 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 value of $1,044,500.00. Following the transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Up 2.1 %

AVB stock opened at $229.54 on Thursday. The company has a market cap of $32.64 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The company has a fifty day moving average price of $224.38 and a 200 day moving average price of $207.73. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities, Inc. has a 12 month low of $160.45 and a 12 month high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its 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 business had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter last year, the company posted $2.66 EPS. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s payout ratio is currently 101.19%.

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.