Geode Capital Management LLC Has $805.11 Million Stock Holdings in AvalonBay Communities, Inc. (NYSE:AVB)

Geode Capital Management LLC lifted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,585,802 shares of the real estate investment trust's stock after purchasing an additional 27,988 shares during the period. Geode Capital Management LLC owned 2.52% of AvalonBay Communities worth $805,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in shares of AvalonBay Communities by 6.9% during the second quarter. CWM LLC now owns 1,564 shares of the real estate investment trust's stock worth $324,000 after buying an additional 101 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of AvalonBay Communities by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,183 shares of the real estate investment trust's stock valued at $452,000 after purchasing an additional 164 shares during the period. PGGM Investments lifted its stake in AvalonBay Communities by 24.7% in the 2nd quarter. PGGM Investments now owns 5,682 shares of the real estate investment trust's stock valued at $1,176,000 after acquiring an additional 1,127 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of AvalonBay Communities by 2.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,248 shares of the real estate investment trust's stock worth $1,086,000 after purchasing an additional 117 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in AvalonBay Communities by 212.3% during the 2nd quarter. Blue Trust Inc. now owns 1,240 shares of the real estate investment trust's stock worth $257,000 after buying an additional 843 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AVB. JPMorgan Chase & Co. boosted their target price 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. Deutsche Bank Aktiengesellschaft lifted their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Evercore ISI upped their price objective 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. Scotiabank decreased their target price 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. Finally, Zelman & Associates upgraded shares of AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. 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 stock presently has a consensus rating of "Hold" and a consensus target price of $228.67.

Insider Activity at AvalonBay Communities

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

AvalonBay Communities Price Performance

NYSE:AVB traded up $1.68 during trading hours on Thursday, reaching $227.84. 475,525 shares of the company were exchanged, compared to its average volume of 712,791. The business has a 50 day moving average of $226.90 and a 200 day moving average of $216.93. AvalonBay Communities, Inc. has a 1-year low of $169.37 and a 1-year high of $239.29. 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 company has a market capitalization of $32.41 billion, a P/E ratio of 30.94, a P/E/G ratio of 3.31 and a beta of 0.98.

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 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The company had revenue of $734.31 million during the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the previous year, the business posted $2.66 EPS. Research analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

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 given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a dividend yield of 2.98%. AvalonBay Communities's dividend payout ratio is 93.02%.

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.