OneDigital Investment Advisors LLC Buys 55 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

OneDigital Investment Advisors LLC grew its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,244 shares of the real estate investment trust’s stock after purchasing an additional 55 shares during the period. OneDigital Investment Advisors LLC’s holdings in AvalonBay Communities were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in AvalonBay Communities in the 1st quarter worth about $95,000. O Shaughnessy Asset Management LLC lifted its stake in shares of AvalonBay Communities by 51.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,476 shares of the real estate investment trust’s stock worth $831,000 after acquiring an additional 1,523 shares during the last quarter. Bessemer Group Inc. boosted its holdings in AvalonBay Communities by 52.0% during the 1st quarter. Bessemer Group Inc. now owns 1,595 shares of the real estate investment trust’s stock valued at $296,000 after acquiring an additional 546 shares during the period. 1832 Asset Management L.P. boosted its holdings in AvalonBay Communities by 7.2% during the 1st quarter. 1832 Asset Management L.P. now owns 59,824 shares of the real estate investment trust’s stock valued at $11,101,000 after acquiring an additional 4,000 shares during the period. Finally, Lazard Asset Management LLC grew its position in AvalonBay Communities by 52.3% in the 1st quarter. Lazard Asset Management LLC now owns 8,116 shares of the real estate investment trust’s stock valued at $1,505,000 after acquiring an additional 2,786 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Up 0.6 %

NYSE:AVB opened at $231.94 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $32.99 billion, a P/E ratio of 31.73, a P/E/G ratio of 3.35 and a beta of 0.97. The company’s 50-day simple moving average is $226.36 and its 200-day simple moving average is $213.76. AvalonBay Communities, Inc. has a fifty-two week low of $169.37 and a fifty-two week high of $236.26.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. During the same period in the prior year, the firm posted $2.66 earnings per share. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is presently 93.02%.

Insiders Place Their Bets

In related news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the transaction, the director now directly owns 87,239 shares of the company’s stock, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVB shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI upped their target price 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. Piper Sandler lifted their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $226.88.

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.