AQR Capital Management LLC Sells 148 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

AQR Capital Management LLC cut its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 70,174 shares of the real estate investment trust’s stock after selling 148 shares during the period. AQR Capital Management LLC’s holdings in AvalonBay Communities were worth $14,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in AvalonBay Communities during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc grew its holdings in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 169 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in AvalonBay Communities in the 1st quarter valued at $39,000. Pinnacle Bancorp Inc. lifted its stake in 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 acquiring an additional 75 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in 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 worth $54,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Insider Buying and Selling

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

AvalonBay Communities Trading Down 1.4 %

Shares of AVB opened at $222.19 on Wednesday. AvalonBay Communities, Inc. has a twelve month low of $160.45 and a twelve month high of $236.26. The stock has a market cap of $31.59 billion, a PE ratio of 33.06, a P/E/G ratio of 3.55 and a beta of 0.97. 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 business’s 50-day moving average price is $219.86 and its 200-day moving average price is $203.41.

AvalonBay Communities (NYSE:AVB) last posted 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 firm had revenue of $726.04 million for the quarter, compared to the consensus estimate of $718.49 million. During the same period last year, the company posted $2.66 EPS. On average, equities analysts forecast that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.06%. The ex-dividend date is Monday, September 30th. AvalonBay Communities’s dividend payout ratio is 101.19%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVB. JPMorgan Chase & Co. raised their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Piper Sandler boosted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial increased their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company boosted their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Scotiabank raised their target price on AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and a consensus target price 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.