AvalonBay Communities, Inc. (NYSE:AVB) Stock Position Raised by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its position in AvalonBay Communities, Inc. (NYSE:AVB) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,112 shares of the real estate investment trust’s stock after buying an additional 105 shares during the quarter. Apollon Wealth Management LLC’s holdings in AvalonBay Communities were worth $251,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. &PARTNERS acquired a new stake in AvalonBay Communities in the second quarter valued at approximately $1,538,000. Swedbank AB bought a new stake in AvalonBay Communities in the first quarter worth $4,532,000. Diversified Trust Co acquired a new position in AvalonBay Communities during the second quarter worth $1,139,000. DekaBank Deutsche Girozentrale boosted its stake in shares of AvalonBay Communities by 10.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust’s stock worth $18,338,000 after acquiring an additional 9,125 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of AvalonBay Communities by 36.5% during the 1st quarter. Tidal Investments LLC now owns 37,638 shares of the real estate investment trust’s stock valued at $6,984,000 after acquiring an additional 10,057 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AVB shares. Evercore ISI upped their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Piper Sandler upped their price objective on shares of AvalonBay Communities from $230.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price 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, Scotiabank lowered their price target on AvalonBay Communities from $244.00 to $241.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $226.88.

AvalonBay Communities Stock Down 0.1 %

AVB opened at $229.22 on Tuesday. AvalonBay Communities, Inc. has a fifty-two week low of $166.60 and a fifty-two week high of $236.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 2.03. The firm’s fifty day moving average price is $226.45 and its two-hundred day moving average price is $213.02. The company has a market capitalization of $32.60 billion, a P/E ratio of 31.36, a P/E/G ratio of 3.35 and a beta of 0.97.

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

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.97%. AvalonBay Communities’s payout ratio is presently 93.02%.

Insider Buying and Selling

In related news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now directly owns 111,436 shares of the company’s stock, valued at $26,051,508.08. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by corporate 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.