Healthcare of Ontario Pension Plan Trust Fund Sells 61,100 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 77.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,400 shares of the real estate investment trust's stock after selling 61,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in AvalonBay Communities were worth $3,919,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVB. &PARTNERS bought a new position in shares of AvalonBay Communities in the 2nd quarter valued at $1,538,000. Swedbank AB acquired a new stake in AvalonBay Communities in the first quarter valued at about $4,532,000. American Assets Capital Advisers LLC bought a new position in AvalonBay Communities in the third quarter valued at about $1,014,000. Diversified Trust Co bought a new position in shares of AvalonBay Communities in the second quarter worth about $1,139,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of AvalonBay Communities by 10.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 100,334 shares of the real estate investment trust's stock valued at $18,338,000 after purchasing an additional 9,125 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 23,697 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $233.47, for a total transaction of $5,532,538.59. Following the completion of the transaction, the director now directly owns 87,239 shares of the company's stock, valued at $20,367,689.33. This represents a 21.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Stock Down 1.0 %

NYSE AVB traded down $2.46 during mid-day trading on Friday, hitting $235.35. The company's stock had a trading volume of 616,785 shares, compared to its average volume of 594,135. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 3.44 and a beta of 0.97. The company's 50 day simple moving average is $226.85 and its 200 day simple moving average is $215.26. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. 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 data 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). The company had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. During the same period in the prior year, the firm posted $2.66 earnings per share. Analysts anticipate that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current year.

AvalonBay Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVB shares. 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 for the company. Truist Financial boosted their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Zelman & Associates raised AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Wells Fargo & Company boosted their price target on AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Finally, Evercore ISI raised their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.