AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 42.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the real estate investment trust’s stock after acquiring an additional 1,450 shares during the period. Townsquare Capital LLC’s holdings in AvalonBay Communities were worth $1,104,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth $32,000. Versant Capital Management Inc grew its position in 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 worth $37,000 after buying an additional 169 shares during the period. Brooklyn Investment Group acquired a new position in AvalonBay Communities during the third quarter worth about $39,000. Mather Group LLC. increased its holdings in AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 56 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of AvalonBay Communities during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 2.0 %

AVB opened at $230.73 on Tuesday. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The business has a 50-day moving average of $226.85 and a two-hundred day moving average of $215.37.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same quarter in the previous year, the company earned $2.66 earnings per share. On average, research analysts expect that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.95%. AvalonBay Communities’s payout ratio is currently 93.02%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AVB shares. Evercore ISI raised their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Royal Bank of Canada cut their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $228.67.

Insider Transactions at AvalonBay Communities

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

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.