Bridgewater Associates LP Sells 77 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Bridgewater Associates LP lowered its holdings in AvalonBay Communities, Inc. (NYSE:AVBFree Report) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 903 shares of the real estate investment trust’s stock after selling 77 shares during the period. Bridgewater Associates LP’s holdings in AvalonBay Communities were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in AvalonBay Communities by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,240,436 shares of the real estate investment trust’s stock valued at $504,658,000 after purchasing an additional 78,800 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in AvalonBay Communities by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,074,269 shares of the real estate investment trust’s stock valued at $429,145,000 after purchasing an additional 13,631 shares during the last quarter. Bank of New York Mellon Corp boosted its position in AvalonBay Communities by 11.9% in the second quarter. Bank of New York Mellon Corp now owns 1,183,121 shares of the real estate investment trust’s stock valued at $244,776,000 after buying an additional 126,055 shares in the last quarter. American Century Companies Inc. grew its stake in shares of AvalonBay Communities by 6.2% during the second quarter. American Century Companies Inc. now owns 461,937 shares of the real estate investment trust’s stock worth $95,570,000 after buying an additional 26,859 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of AvalonBay Communities by 0.4% during the third quarter. Swiss National Bank now owns 422,021 shares of the real estate investment trust’s stock worth $95,060,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

AvalonBay Communities Price Performance

AvalonBay Communities stock opened at $228.45 on Wednesday. The stock has a market capitalization of $32.49 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.37 and a beta of 0.98. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $239.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock’s 50 day moving average price is $226.76 and its two-hundred day moving average price is $215.81.

AvalonBay Communities (NYSE:AVBGet Free Report) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 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 company had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. During the same quarter in the previous year, the business posted $2.66 earnings per share. On average, equities analysts predict that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities’s dividend payout ratio (DPR) is currently 93.02%.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the transaction, the director now owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AVB shares. JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada reduced their price target on AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Zelman & Associates raised shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Finally, Truist Financial raised their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $228.67.

Check Out Our Latest Report on AVB

About AvalonBay Communities

(Free Report)

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.

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Institutional Ownership by Quarter for AvalonBay Communities (NYSE:AVB)

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