AvalonBay Communities, Inc. (NYSE:AVB) Holdings Lowered by Aew Capital Management L P

Aew Capital Management L P decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 769,788 shares of the real estate investment trust’s stock after selling 22,114 shares during the quarter. AvalonBay Communities makes up 5.3% of Aew Capital Management L P’s holdings, making the stock its 3rd largest position. Aew Capital Management L P’s holdings in AvalonBay Communities were worth $144,120,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. First Affirmative Financial Network raised its holdings in AvalonBay Communities by 4.8% in the 4th quarter. First Affirmative Financial Network now owns 1,494 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 69 shares during the period. Atria Investments Inc raised its holdings in AvalonBay Communities by 0.7% in the 3rd quarter. Atria Investments Inc now owns 10,723 shares of the real estate investment trust’s stock worth $1,842,000 after purchasing an additional 79 shares during the period. Wealth Alliance raised its holdings in AvalonBay Communities by 5.8% in the 4th quarter. Wealth Alliance now owns 1,595 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 88 shares during the period. Toroso Investments LLC raised its holdings in AvalonBay Communities by 0.4% in the 3rd quarter. Toroso Investments LLC now owns 26,102 shares of the real estate investment trust’s stock worth $4,483,000 after purchasing an additional 97 shares during the period. Finally, Stonegate Investment Group LLC raised its holdings in AvalonBay Communities by 4.1% in the 4th quarter. Stonegate Investment Group LLC now owns 2,498 shares of the real estate investment trust’s stock worth $468,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin P. O’shea sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.65, for a total value of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kevin P. O’shea sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.65, for a total transaction of $928,250.00. Following the completion of the transaction, the chief financial officer now directly owns 31,308 shares in the company, valued at $5,812,330.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joanne M. Lockridge sold 1,750 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $185.10, for a total value of $323,925.00. Following the transaction, the executive vice president now owns 21,907 shares of the company’s stock, valued at $4,054,985.70. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVB. Truist Financial reduced their price target on AvalonBay Communities from $201.00 to $197.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. Piper Sandler reissued an “overweight” rating and set a $207.00 target price on shares of AvalonBay Communities in a report on Tuesday, March 26th. KeyCorp reissued a “sector weight” rating on shares of AvalonBay Communities in a report on Friday, January 5th. Deutsche Bank Aktiengesellschaft began coverage on AvalonBay Communities in a report on Tuesday, January 30th. They set a “buy” rating and a $206.00 target price for the company. Finally, Wolfe Research cut AvalonBay Communities from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities currently has a consensus rating of “Hold” and a consensus price target of $196.78.

AvalonBay Communities Price Performance

Shares of AVB stock traded up $0.13 during trading hours on Friday, reaching $191.45. The company had a trading volume of 945,647 shares, compared to its average volume of 816,357. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a fifty day moving average of $182.66 and a 200-day moving average of $178.64. The company has a market capitalization of $27.22 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 3.56 and a beta of 0.92. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $198.65.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($1.03). The company had revenue of $704.71 million during the quarter, compared to analysts’ expectations of $701.67 million. AvalonBay Communities had a net margin of 33.56% and a return on equity of 7.98%. During the same quarter last year, the company earned $2.59 earnings per share. On average, equities analysts anticipate that AvalonBay Communities, Inc. will post 10.8 earnings per share for the current year.

AvalonBay Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.55%. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 27th. AvalonBay Communities’s dividend payout ratio is presently 103.82%.

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.