AvalonBay Communities, Inc. (NYSE:AVB) is Liberty Mutual Group Asset Management Inc.’s 10th Largest Position

Liberty Mutual Group Asset Management Inc. boosted its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,490 shares of the real estate investment trust’s stock after acquiring an additional 4,319 shares during the quarter. AvalonBay Communities accounts for about 1.1% of Liberty Mutual Group Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Liberty Mutual Group Asset Management Inc.’s holdings in AvalonBay Communities were worth $7,756,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SYSTM Wealth Solutions LLC boosted its position in AvalonBay Communities by 2.7% during the second quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $386,000 after buying an additional 49 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of AvalonBay Communities by 4.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 59 shares during the last quarter. Mechanics Bank Trust Department increased its stake in shares of AvalonBay Communities by 0.3% in the second quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust’s stock worth $3,710,000 after buying an additional 60 shares during the period. SVB Wealth LLC raised its holdings in AvalonBay Communities by 1.1% during the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $1,026,000 after buying an additional 62 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in AvalonBay Communities by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 2,202 shares of the real estate investment trust’s stock valued at $456,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Stock Down 1.4 %

Shares of NYSE:AVB opened at $226.53 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $218.54 and a two-hundred day simple moving average of $202.13. AvalonBay Communities, Inc. has a 12-month low of $160.45 and a 12-month high of $236.26. The stock has a market capitalization of $32.22 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 3.55 and a beta of 0.97.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million during the quarter, compared to the consensus estimate of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the firm earned $2.66 EPS. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.00%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 101.19%.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the business’s stock in a transaction dated 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 owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AvalonBay Communities news, 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 transaction, the senior vice president now directly owns 4,383 shares of the company’s stock, valued at $908,026.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares of the company’s stock, valued at approximately $13,780,506.30. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AVB shares. BNP Paribas began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They set an “outperform” rating and a $250.00 price objective for the company. Zelman & Associates raised AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted 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. Wells Fargo & Company upped their target price on AvalonBay Communities from $222.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, Scotiabank lifted their price target on shares of AvalonBay Communities from $229.00 to $244.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $223.12.

AvalonBay Communities Company 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.