BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $6.44 Million Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,575 shares of the real estate investment trust’s stock after selling 1,824 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in AvalonBay Communities were worth $6,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in AvalonBay Communities by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after acquiring an additional 13,631 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AvalonBay Communities by 11.9% in the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock valued at $244,776,000 after purchasing an additional 126,055 shares in the last quarter. Janus Henderson Group PLC lifted its position in AvalonBay Communities by 6.1% during the first quarter. Janus Henderson Group PLC now owns 521,815 shares of the real estate investment trust’s stock worth $96,781,000 after purchasing an additional 29,953 shares during the period. American Century Companies Inc. grew its stake in AvalonBay Communities by 6.2% during the second quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust’s stock worth $95,570,000 after buying an additional 26,859 shares in the last quarter. Finally, Swiss National Bank increased its holdings in AvalonBay Communities by 0.4% in the 3rd quarter. Swiss National Bank now owns 422,021 shares of the real estate investment trust’s stock valued at $95,060,000 after buying an additional 1,500 shares during the period. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVB. Evercore ISI upped their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. BNP Paribas assumed coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 target price for the company. Wells Fargo & Company lifted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Truist Financial lifted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Scotiabank cut their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. 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 MarketBeat.com, AvalonBay Communities currently has an average rating of “Hold” and an average price target of $226.88.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the transaction, the director now 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB opened at $231.94 on Monday. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $236.26. 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 50 day moving average price of $226.36 and a two-hundred day moving average price of $214.02. The firm has a market capitalization of $32.99 billion, a P/E ratio of 31.73, a P/E/G ratio of 3.37 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the previous year, the company posted $2.66 earnings per share. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given 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 payout ratio is 93.02%.

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.