Graypoint LLC Acquires New Shares in AvalonBay Communities, Inc. (NYSE:AVB)

Graypoint LLC purchased a new stake in AvalonBay Communities, Inc. (NYSE:AVB) during the third quarter, HoldingsChannel.com reports. The fund purchased 958 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in AvalonBay Communities by 24.2% during the first quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust’s stock worth $340,000 after buying an additional 357 shares during the last quarter. Tectonic Advisors LLC boosted its position in AvalonBay Communities by 15.0% during the first quarter. Tectonic Advisors LLC now owns 1,733 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 226 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of AvalonBay Communities in the first quarter valued at $5,172,000. Sei Investments Co. raised its position in shares of AvalonBay Communities by 2.2% in the first quarter. Sei Investments Co. now owns 268,461 shares of the real estate investment trust’s stock valued at $49,816,000 after purchasing an additional 5,786 shares during the period. Finally, Headlands Technologies LLC lifted its stake in shares of AvalonBay Communities by 774.0% during the 1st quarter. Headlands Technologies LLC now owns 874 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 774 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVB has been the topic of a number of research reports. Truist Financial upped their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Piper Sandler increased 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. Royal Bank of Canada reduced their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Scotiabank boosted their target price on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $227.06.

AvalonBay Communities Stock Up 2.5 %

Shares of AVB opened at $233.75 on Friday. The firm has a 50 day simple moving average of $225.92 and a two-hundred day simple moving average of $211.05. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities, Inc. has a one year low of $164.76 and a one year high of $236.26. The company has a market cap of $33.24 billion, a P/E ratio of 31.98, a P/E/G ratio of 3.41 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The business had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period last year, the firm posted $2.66 EPS. Research analysts forecast that AvalonBay Communities, Inc. will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.91%. AvalonBay Communities’s payout ratio is currently 93.02%.

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.