AvalonBay Communities, Inc. (NYSE:AVB) Shares Sold by Fmr LLC

Fmr LLC decreased its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 246,459 shares of the real estate investment trust’s stock after selling 5,624 shares during the quarter. Fmr LLC’s holdings in AvalonBay Communities were worth $55,515,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVB. &PARTNERS purchased a new position in AvalonBay Communities in the 2nd quarter valued at approximately $1,538,000. American Assets Capital Advisers LLC purchased a new position in AvalonBay Communities in the third quarter valued at $1,014,000. Diversified Trust Co acquired a new position in AvalonBay Communities during the 2nd quarter worth $1,139,000. Cetera Investment Advisers increased its holdings in AvalonBay Communities by 153.3% during the 1st quarter. Cetera Investment Advisers now owns 17,564 shares of the real estate investment trust’s stock worth $3,259,000 after purchasing an additional 10,629 shares during the period. Finally, 1832 Asset Management L.P. raised its position in AvalonBay Communities by 5.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 63,174 shares of the real estate investment trust’s stock valued at $13,070,000 after purchasing an additional 3,350 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the company’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 completion of the transaction, the director now owns 87,239 shares in the company, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

AvalonBay Communities Stock Performance

Shares of AvalonBay Communities stock opened at $226.55 on Friday. The firm’s fifty day simple moving average is $226.73 and its 200-day simple moving average is $215.97. AvalonBay Communities, Inc. has a 12 month low of $169.37 and a 12 month high of $239.29. The stock has a market capitalization of $32.22 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.34 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data 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). AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. The business had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same quarter in the prior year, the firm posted $2.66 earnings per share. As a group, equities analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio is presently 93.02%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVB shares. Evercore ISI boosted their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Truist Financial increased their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Wells Fargo & Company increased their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada lowered their price objective on 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. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $228.67.

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.