AvalonBay Communities, Inc. (NYSE:AVB) is Pensionfund DSM Netherlands’ 9th Largest Position

Pensionfund DSM Netherlands lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB) by 19.9% in the fourth quarter, HoldingsChannel reports. The fund owned 22,120 shares of the real estate investment trust’s stock after selling 5,500 shares during the period. AvalonBay Communities makes up about 3.0% of Pensionfund DSM Netherlands’ portfolio, making the stock its 9th biggest position. Pensionfund DSM Netherlands’ holdings in AvalonBay Communities were worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new stake in AvalonBay Communities in the 3rd quarter worth $26,000. Brooklyn Investment Group bought a new stake in shares of AvalonBay Communities in the third quarter worth about $39,000. Mather Group LLC. increased its holdings in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 56 shares during the period. Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $51,000. Finally, Global X Japan Co. Ltd. bought a new position in AvalonBay Communities during the 2nd quarter valued at approximately $70,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVB has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Scotiabank cut their price target on shares of AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. 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 research note on Monday, September 16th. Finally, Barclays started coverage on shares of AvalonBay Communities in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $243.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.53.

Insider Transactions at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the sale, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.42% of the company’s stock.

AvalonBay Communities Stock Performance

AVB stock traded up $1.25 during midday trading on Monday, reaching $220.42. 66,536 shares of the company’s stock traded hands, compared to its average volume of 308,007. The stock’s 50-day moving average is $226.61 and its 200 day moving average is $220.07. The stock has a market cap of $31.35 billion, a P/E ratio of 30.15, a PEG ratio of 3.30 and a beta of 0.99. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $239.29. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (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 firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. During the same period last year, the company earned $2.66 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. AvalonBay Communities’s payout ratio is 93.02%.

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.