AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by APG Asset Management N.V.

APG Asset Management N.V. lifted its position in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 890.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,716 shares of the real estate investment trust’s stock after buying an additional 42,900 shares during the period. APG Asset Management N.V.’s holdings in AvalonBay Communities were worth $9,211,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. &PARTNERS acquired a new stake in AvalonBay Communities during the second quarter worth about $1,538,000. Lasalle Investment Management Securities LLC raised its holdings in AvalonBay Communities by 3.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 602,642 shares of the real estate investment trust’s stock valued at $112,827,000 after buying an additional 18,320 shares during the period. Sheets Smith Wealth Management acquired a new position in AvalonBay Communities during the first quarter valued at approximately $768,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in AvalonBay Communities by 14.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust’s stock worth $6,115,000 after buying an additional 4,138 shares during the period. Finally, Cibc World Markets Corp increased its position in shares of AvalonBay Communities by 735.5% in the fourth quarter. Cibc World Markets Corp now owns 65,485 shares of the real estate investment trust’s stock worth $12,260,000 after acquiring an additional 57,647 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AvalonBay Communities

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

Analyst Ratings Changes

AVB has been the subject of a number of research reports. Scotiabank upped their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Royal Bank of Canada increased their target price on AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Truist Financial boosted their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Thirteen 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 stock presently has an average rating of “Hold” and an average target price of $223.12.

AvalonBay Communities Price Performance

Shares of NYSE AVB opened at $225.23 on Friday. The business has a 50 day simple moving average of $219.26 and a 200-day simple moving average of $202.72. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26. The company has a market capitalization of $32.02 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 3.55 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

AvalonBay Communities (NYSE:AVB) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. The business had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period last year, the company posted $2.66 earnings per share. As a group, equities research analysts expect that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.02%. AvalonBay Communities’s dividend payout ratio is currently 101.19%.

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.