Forsta AP Fonden Boosts Stock Position in AvalonBay Communities, Inc. (NYSE:AVB)

Forsta AP Fonden boosted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB) by 51.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,400 shares of the real estate investment trust’s stock after acquiring an additional 16,500 shares during the quarter. Forsta AP Fonden’s holdings in AvalonBay Communities were worth $10,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Segment Wealth Management LLC lifted its holdings in shares of AvalonBay Communities by 4.6% during the third quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 45 shares during the period. SYSTM Wealth Solutions LLC raised its position in AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in shares of AvalonBay Communities by 4.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 50 shares during the period. Tectonic Advisors LLC boosted its holdings in shares of AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 50 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVB. Wells Fargo & Company raised their price objective on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. BNP Paribas initiated coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price objective for the company. UBS Group boosted their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Piper Sandler increased their price target on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AvalonBay Communities presently has an average rating of “Hold” and an average price target of $225.88.

Insider Activity

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 shares were 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 in the company, valued at approximately $908,026.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Keri A. Shea sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total value of $414,340.00. Following the completion of the sale, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

AvalonBay Communities Trading Down 1.5 %

Shares of AVB opened at $226.35 on Monday. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26. 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 firm has a 50 day simple moving average of $224.90 and a 200-day simple moving average of $208.45. The stock has a market cap of $32.18 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $1.78 EPS 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 company had revenue of $726.04 million for the quarter, compared to analyst estimates of $718.49 million. During the same period in the previous year, the business earned $2.66 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.01 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.00%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

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.