AvalonBay Communities, Inc. (NYSE:AVB) Shares Purchased by Swedbank AB

Swedbank AB lifted its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 46.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,791 shares of the real estate investment trust's stock after purchasing an additional 11,064 shares during the quarter. Swedbank AB's holdings in AvalonBay Communities were worth $7,837,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc lifted its position in AvalonBay Communities by 1,877.8% during the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 169 shares during the last quarter. Mather Group LLC. grew its stake in shares of 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 in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of AvalonBay Communities in the 3rd quarter worth about $51,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of 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 valued at $54,000 after buying an additional 73 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVB has been the topic of a number of recent research reports. Piper Sandler upped their price objective on AvalonBay Communities from $230.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Zelman & Associates upgraded AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Truist Financial raised their price target 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. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price objective for the company. Finally, Evercore ISI upped their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, AvalonBay Communities has a consensus rating of "Hold" and an average price target of $226.88.

Insiders Place Their Bets

In other news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the transaction, the director now directly owns 87,239 shares of the company's stock, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company's stock.

AvalonBay Communities Stock Up 1.3 %

AVB traded up $3.16 on Wednesday, hitting $238.55. The company had a trading volume of 224,631 shares, compared to its average volume of 719,276. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 3.40 and a beta of 0.97. 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 has a fifty day moving average price of $226.45 and a 200-day moving average price of $214.54. AvalonBay Communities, Inc. has a 12-month low of $169.37 and a 12-month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analysts' expectations of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the prior year, the firm posted $2.66 earnings per share. Analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 2.85%. AvalonBay Communities's payout ratio is 93.02%.

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.