Quest Partners LLC Trims Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Quest Partners LLC lowered its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 37.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,021 shares of the real estate investment trust's stock after selling 2,985 shares during the quarter. Quest Partners LLC's holdings in AvalonBay Communities were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Daiwa Securities Group Inc. grew its position in AvalonBay Communities by 487.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust's stock valued at $74,372,000 after buying an additional 298,322 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of AvalonBay Communities during the 3rd quarter worth $581,960,000. Canada Pension Plan Investment Board raised its stake in shares of AvalonBay Communities by 14.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust's stock worth $367,534,000 after buying an additional 249,400 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of AvalonBay Communities by 958.9% during the 3rd quarter. SG Americas Securities LLC now owns 172,618 shares of the real estate investment trust's stock worth $38,882,000 after buying an additional 156,316 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of AvalonBay Communities during the 3rd quarter worth $29,256,000. 92.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AVB shares. BNP Paribas started coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 target price for the company. Royal Bank of Canada cut their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Wells Fargo & Company boosted their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. Finally, Truist Financial boosted their target price 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 equities research analysts have rated the stock with a hold rating and seven have issued 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 target price of $226.88.

AvalonBay Communities Stock Down 0.5 %

Shares of NYSE:AVB opened at $228.14 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $236.26. The stock has a market capitalization of $32.45 billion, a P/E ratio of 31.21, a PEG ratio of 3.35 and a beta of 0.97. The stock has a 50-day simple moving average of $226.42 and a 200-day simple moving average of $213.38.

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 for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). The company 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 quarter in the prior year, the company earned $2.66 EPS. Equities analysts forecast that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

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 issued a $1.70 dividend. 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 is presently 93.02%.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

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.