Edgestream Partners L.P. Purchases 2,513 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Edgestream Partners L.P. grew its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,018 shares of the real estate investment trust's stock after purchasing an additional 2,513 shares during the quarter. Edgestream Partners L.P.'s holdings in AvalonBay Communities were worth $4,509,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. &PARTNERS acquired a new position in AvalonBay Communities during the 2nd quarter worth $1,538,000. Swedbank AB bought a new stake in AvalonBay Communities during the 1st quarter valued at approximately $4,532,000. American Assets Capital Advisers LLC bought a new position in AvalonBay Communities in the 3rd quarter worth approximately $1,014,000. Diversified Trust Co bought a new position in AvalonBay Communities in the 2nd quarter worth approximately $1,139,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of AvalonBay Communities by 10.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust's stock worth $18,338,000 after buying an additional 9,125 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of AvalonBay Communities stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares of the company's stock, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.42% of the company's stock.

AvalonBay Communities Price Performance

AVB stock traded down $2.46 during trading on Friday, hitting $235.35. 616,785 shares of the stock traded hands, compared to its average volume of 594,135. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $33.48 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 3.44 and a beta of 0.97. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The company has a 50 day simple moving average of $226.85 and a 200 day simple moving average of $215.37.

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 business had revenue of $734.31 million during 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 quarter in the previous year, the firm posted $2.66 EPS. Equities analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio is 93.02%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AVB. BNP Paribas initiated coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price objective on the stock. Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a report on Tuesday, August 27th. Wells Fargo & Company increased 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. Evercore ISI boosted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $228.67.

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.