16,650 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Purchased by Holocene Advisors LP

Holocene Advisors LP bought a new position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,650 shares of the real estate investment trust's stock, valued at approximately $3,750,000.

A number of other hedge funds also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC bought a new stake in AvalonBay Communities during the 3rd quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the second quarter worth $32,000. Brooklyn Investment Group bought a new position in AvalonBay Communities in the third quarter worth $39,000. Mather Group LLC. grew its position in shares of AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock worth $45,000 after buying an additional 56 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in shares of AvalonBay Communities in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 92.61% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVB. Deutsche Bank Aktiengesellschaft raised their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on AvalonBay Communities from $212.00 to $247.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. Royal Bank of Canada cut their target price on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Evercore ISI boosted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Finally, Scotiabank dropped their price objective on 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. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $228.67.

AvalonBay Communities Price Performance

NYSE:AVB traded up $0.15 during trading hours on Friday, hitting $226.55. 382,823 shares of the stock traded hands, compared to its average volume of 714,554. The company has a market cap of $32.22 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 3.34 and a beta of 0.98. AvalonBay Communities, Inc. has a 1 year low of $169.37 and a 1 year high of $239.29. The stock has a 50 day moving average price of $226.73 and a 200 day moving average price of $215.97. 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 results 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). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The business had revenue of $734.31 million during the quarter, compared to analysts' expectations of $731.67 million. During the same quarter in the previous year, the company posted $2.66 EPS. Sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 31st. AvalonBay Communities's dividend payout ratio (DPR) is presently 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.