AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,207 shares of the real estate investment trust’s stock after acquiring an additional 111 shares during the quarter. GAMMA Investing LLC’s holdings in AvalonBay Communities were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Affirmative Financial Network grew its position in shares of AvalonBay Communities by 4.8% in the fourth quarter. First Affirmative Financial Network now owns 1,494 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 69 shares during the period. Wealth Alliance raised its position in shares of AvalonBay Communities by 5.8% in the 4th quarter. Wealth Alliance now owns 1,595 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 88 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of AvalonBay Communities by 4.2% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,252 shares of the real estate investment trust’s stock valued at $422,000 after buying an additional 91 shares during the last quarter. Toroso Investments LLC grew its position in shares of AvalonBay Communities by 0.4% during the third quarter. Toroso Investments LLC now owns 26,102 shares of the real estate investment trust’s stock worth $4,483,000 after buying an additional 97 shares in the last quarter. Finally, Stonegate Investment Group LLC increased its stake in shares of AvalonBay Communities by 4.1% in the fourth quarter. Stonegate Investment Group LLC now owns 2,498 shares of the real estate investment trust’s stock worth $468,000 after buying an additional 98 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

AvalonBay Communities Price Performance

Shares of AVB opened at $201.93 on Friday. The firm has a market capitalization of $28.71 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 2.96 and a beta of 0.93. The stock’s fifty day moving average is $193.93 and its 200-day moving average is $185.58. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($1.42). The company had revenue of $712.86 million for the quarter, compared to the consensus estimate of $706.61 million. AvalonBay Communities had a return on equity of 8.12% and a net margin of 34.05%. During the same quarter last year, the firm posted $2.57 earnings per share. Equities analysts anticipate that AvalonBay Communities, Inc. will post 10.9 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Friday, June 28th. AvalonBay Communities’s payout ratio is currently 101.19%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVB. JPMorgan Chase & Co. raised their price objective on shares of AvalonBay Communities from $194.00 to $212.00 and gave the stock a “neutral” rating in a report on Monday. Argus boosted their price objective on AvalonBay Communities from $188.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Royal Bank of Canada increased their target price on AvalonBay Communities from $191.00 to $196.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Mizuho boosted their price target on AvalonBay Communities from $185.00 to $194.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Evercore ISI cut AvalonBay Communities from an “outperform” rating to an “inline” rating and set a $202.00 price objective on the stock. in a research note on Monday, May 13th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $205.89.

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.