AvalonBay Communities, Inc. (NYSE:AVB) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 958.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 172,618 shares of the real estate investment trust’s stock after purchasing an additional 156,316 shares during the quarter. SG Americas Securities LLC owned approximately 0.12% of AvalonBay Communities worth $38,882,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the second quarter valued at $32,000. Versant Capital Management Inc grew its holdings in shares of 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 during the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the 1st quarter valued at about $39,000. Pinnacle Bancorp Inc. raised 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 during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position 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 period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

NYSE AVB opened at $220.70 on Friday. The business has a 50 day moving average price of $220.56 and a 200 day moving average price of $203.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $31.38 billion, a P/E ratio of 32.84, a PEG ratio of 3.55 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26.

AvalonBay Communities (NYSE:AVB) last announced its quarterly 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 net margin of 29.61% and a return on equity of 7.16%. The firm had revenue of $726.04 million during the quarter, compared to analysts’ expectations of $718.49 million. During the same quarter in the prior year, the business earned $2.66 EPS. Sell-side analysts expect that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared 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. This represents a $6.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BNP Paribas began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised 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. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $225.88.

Insider Activity

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

About AvalonBay Communities

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.