AvalonBay Communities, Inc. (NYSE:AVB) is Duff & Phelps Investment Management Co.'s 8th Largest Position

Duff & Phelps Investment Management Co. lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 857,241 shares of the real estate investment trust's stock after acquiring an additional 33,934 shares during the quarter. AvalonBay Communities accounts for 2.2% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 8th largest position. Duff & Phelps Investment Management Co. owned 0.60% of AvalonBay Communities worth $193,094,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. &PARTNERS acquired a new stake in shares of AvalonBay Communities during the second quarter worth about $1,538,000. American Assets Capital Advisers LLC purchased a new position in AvalonBay Communities in the 3rd quarter valued at approximately $1,014,000. Diversified Trust Co purchased a new position in AvalonBay Communities in the 2nd quarter valued at approximately $1,139,000. 1832 Asset Management L.P. increased its position in shares of AvalonBay Communities by 5.6% during the second quarter. 1832 Asset Management L.P. now owns 63,174 shares of the real estate investment trust's stock worth $13,070,000 after acquiring an additional 3,350 shares during the period. Finally, KBC Group NV raised its stake in shares of AvalonBay Communities by 284.8% in the third quarter. KBC Group NV now owns 146,429 shares of the real estate investment trust's stock valued at $32,983,000 after acquiring an additional 108,371 shares in the last quarter. Institutional investors and hedge funds own 92.61% of the company's stock.

Insider Buying and Selling at AvalonBay Communities

In related news, Director Timothy J. Naughton sold 23,697 shares of AvalonBay Communities 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 transaction, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on AVB. Scotiabank cut their price target on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company upped their target price on shares of AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, August 26th. BNP Paribas began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of AvalonBay Communities from $212.00 to $247.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. Finally, Truist Financial lifted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $228.67.

AvalonBay Communities Stock Performance

Shares of AVB stock traded up $0.41 during trading hours on Monday, hitting $226.96. The stock had a trading volume of 621,658 shares, compared to its average volume of 714,164. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $32.28 billion, a PE ratio of 30.99, a PEG ratio of 3.31 and a beta of 0.98. The stock's 50 day moving average is $226.75 and its 200 day moving average is $216.43. AvalonBay Communities, Inc. has a twelve month low of $169.37 and a twelve month high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued 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 business had revenue of $734.31 million for the quarter, compared to analyst estimates 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. As a group, research analysts forecast that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business 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 $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio (DPR) is presently 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.