ProShare Advisors LLC Acquires 1,328 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

ProShare Advisors LLC boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 4.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 32,312 shares of the real estate investment trust’s stock after acquiring an additional 1,328 shares during the period. ProShare Advisors LLC’s holdings in AvalonBay Communities were worth $6,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in shares of AvalonBay Communities in the 2nd quarter worth $32,000. Versant Capital Management Inc lifted its holdings in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 169 shares during the period. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities in the first quarter worth about $39,000. Pinnacle Bancorp Inc. grew its stake in shares of AvalonBay Communities by 50.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 225 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 75 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares in the company, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

AvalonBay Communities Stock Down 0.2 %

Shares of AVB stock opened at $229.65 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a market cap of $32.66 billion, a P/E ratio of 34.17, a PEG ratio of 3.55 and a beta of 0.97. AvalonBay Communities, Inc. has a 52 week low of $160.45 and a 52 week high of $236.26. The company’s fifty day simple moving average is $218.11 and its two-hundred day simple moving average is $201.94.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The business had revenue of $726.04 million for the quarter, compared to analysts’ expectations of $718.49 million. AvalonBay Communities had a net margin of 29.61% and a return on equity of 7.16%. During the same period in the previous year, the company earned $2.66 EPS. Analysts predict that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, September 30th. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

Analysts Set New Price Targets

Several analysts recently issued reports on AVB shares. Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. UBS Group boosted their price objective on shares of AvalonBay Communities from $210.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Mizuho raised their target price on AvalonBay Communities from $185.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Wells Fargo & Company boosted their price target 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 raised their price objective on AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $223.12.

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.