PFG Investments LLC Raises Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

PFG Investments LLC grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB) by 6.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097 shares of the real estate investment trust’s stock after buying an additional 63 shares during the quarter. PFG Investments LLC’s holdings in AvalonBay Communities were worth $247,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVB. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities during the second quarter worth $32,000. Versant Capital Management Inc raised its position in shares of AvalonBay Communities by 1,877.8% during the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 169 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities in the 1st quarter valued at about $39,000. Mather Group LLC. boosted its holdings in AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in AvalonBay Communities by 38.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 73 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVB. Zelman & Associates upgraded AvalonBay Communities to a “hold” rating in a research report on Thursday, September 5th. Truist Financial lifted their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Evercore ISI increased 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 report on Monday, September 16th. Wells Fargo & Company boosted their price target on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Piper Sandler increased their price objective 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 given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $225.88.

AvalonBay Communities Price Performance

Shares of AVB opened at $227.76 on Thursday. The firm has a 50-day simple moving average of $225.59 and a two-hundred day simple moving average of $209.20. The stock has a market cap of $32.39 billion, a PE ratio of 38.54, a P/E/G ratio of 3.33 and a beta of 0.97. AvalonBay Communities, Inc. has a 1-year low of $161.85 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.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $718.49 million. During the same quarter last year, the business posted $2.66 EPS. As a group, analysts forecast that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed 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 2.99%. AvalonBay Communities’s payout ratio is presently 115.06%.

Insider Activity at AvalonBay Communities

In related news, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction of $1,044,500.00. Following the completion of the transaction, the executive now directly owns 65,967 shares in the company, valued at $13,780,506.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Keri A. Shea sold 2,000 shares of the company’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 directly owns 4,383 shares of the company’s stock, valued at $908,026.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive now directly owns 65,967 shares of the company’s stock, valued at $13,780,506.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

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.