AvalonBay Communities, Inc. (NYSE:AVB) Sees Significant Growth in Short Interest

AvalonBay Communities, Inc. (NYSE:AVB - Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,860,000 shares, a growth of 5.9% from the November 30th total of 2,700,000 shares. Based on an average trading volume of 655,200 shares, the short-interest ratio is currently 4.4 days.

Insider Activity

In related news, Director Timothy J. Naughton sold 23,697 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total value of $5,532,538.59. Following the completion of the sale, the director now owns 87,239 shares of the company's stock, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company's stock.

Institutional Trading of AvalonBay Communities

Several institutional investors have recently added to or reduced their stakes in AVB. RPg Family Wealth Advisory LLC purchased a new position in shares of AvalonBay Communities during the third quarter worth $26,000. Brooklyn Investment Group purchased a new position in AvalonBay Communities during the 3rd quarter valued at about $39,000. Mather Group LLC. boosted its holdings in AvalonBay Communities by 38.6% during the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 56 shares during the period. Prospera Private Wealth LLC acquired a new position in AvalonBay Communities in the 3rd quarter valued at about $51,000. Finally, Global X Japan Co. Ltd. purchased a new stake in AvalonBay Communities during the second quarter worth about $70,000. Institutional investors and hedge funds own 92.61% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AVB. Evercore ISI upped their price target on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Scotiabank dropped their target price on shares of AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating for the company in a report on Thursday, November 14th. BNP Paribas began coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded shares of AvalonBay Communities from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $231.33.

AvalonBay Communities Trading Up 0.1 %

NYSE:AVB traded up $0.18 on Wednesday, reaching $219.97. The company's stock had a trading volume of 557,207 shares, compared to its average volume of 710,604. AvalonBay Communities has a 12-month low of $169.37 and a 12-month high of $239.29. The stock has a 50 day moving average price of $227.01 and a 200 day moving average price of $219.72. The firm has a market cap of $31.29 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $734.31 million during the quarter, compared to analysts' expectations 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, equities analysts anticipate that AvalonBay Communities will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.09%. AvalonBay Communities's payout ratio is currently 93.02%.

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.