BNP Paribas Financial Markets Purchases 91,861 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

BNP Paribas Financial Markets grew its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 54.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,531 shares of the real estate investment trust's stock after purchasing an additional 91,861 shares during the period. BNP Paribas Financial Markets owned approximately 0.18% of AvalonBay Communities worth $58,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVB. Lazard Asset Management LLC boosted its position in AvalonBay Communities by 52.3% during the 1st quarter. Lazard Asset Management LLC now owns 8,116 shares of the real estate investment trust's stock worth $1,505,000 after acquiring an additional 2,786 shares during the period. Plato Investment Management Ltd boosted its holdings in shares of AvalonBay Communities by 863.7% during the first quarter. Plato Investment Management Ltd now owns 3,315 shares of the real estate investment trust's stock worth $615,000 after purchasing an additional 2,971 shares during the period. Virtu Financial LLC grew its position in AvalonBay Communities by 78.6% during the first quarter. Virtu Financial LLC now owns 3,845 shares of the real estate investment trust's stock valued at $713,000 after purchasing an additional 1,692 shares in the last quarter. Swedbank AB acquired a new position in AvalonBay Communities in the 1st quarter valued at approximately $4,532,000. Finally, Atria Investments Inc grew its holdings in shares of AvalonBay Communities by 5.1% during the 1st quarter. Atria Investments Inc now owns 10,044 shares of the real estate investment trust's stock valued at $1,864,000 after acquiring an additional 490 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

AvalonBay Communities Stock Performance

Shares of AVB stock traded up $2.42 during mid-day trading on Thursday, reaching $237.81. The stock had a trading volume of 532,316 shares, compared to its average volume of 720,644. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The firm has a market cap of $33.83 billion, a PE ratio of 32.53, a P/E/G ratio of 3.40 and a beta of 0.97. The firm's 50 day simple moving average is $226.74 and its 200 day simple moving average is $214.87. 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 analysts' consensus estimates of $2.71 by ($0.10). The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the previous year, the business posted $2.66 earnings per share. On average, analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Dividend Announcement

The firm also recently declared 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 yield of 2.86%. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial lifted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Scotiabank lowered their target price on shares of 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. Zelman & Associates raised AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company upped their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, August 26th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $226.88.

Insider Buying and Selling at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company's stock.

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.