Oppenheimer Asset Management Inc. Boosts Position in AvalonBay Communities, Inc. (NYSE:AVB)

Oppenheimer Asset Management Inc. raised its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,652 shares of the real estate investment trust’s stock after purchasing an additional 2,014 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AvalonBay Communities were worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in shares of AvalonBay Communities in the 2nd quarter valued at $32,000. Versant Capital Management Inc lifted its position in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 169 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the first quarter valued at $39,000. Mather Group LLC. grew its holdings in shares of AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of AvalonBay Communities by 38.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

AvalonBay Communities Stock Performance

Shares of AVB stock opened at $229.41 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.03 and a current ratio of 1.64. The stock has a market cap of $32.63 billion, a PE ratio of 31.38, a P/E/G ratio of 3.35 and a beta of 0.97. AvalonBay Communities, Inc. has a 1 year low of $166.60 and a 1 year high of $236.26. The stock has a fifty day moving average price of $226.38 and a 200 day moving average price of $212.76.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $731.67 million. During the same quarter in the prior year, the firm earned $2.66 earnings per share. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities’s payout ratio is currently 93.02%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVB shares. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research note on Thursday, September 5th. Evercore ISI lifted their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating for the company in a research note on Thursday. BNP Paribas started 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $226.88.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the transaction, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by insiders.

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.