Janus Henderson Group PLC Purchases 43,206 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Janus Henderson Group PLC lifted its holdings in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 11.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 416,461 shares of the real estate investment trust's stock after purchasing an additional 43,206 shares during the period. Janus Henderson Group PLC owned 0.29% of AvalonBay Communities worth $93,790,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in AvalonBay Communities in the third quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in AvalonBay Communities in the second quarter valued at about $32,000. Brooklyn Investment Group acquired a new position in AvalonBay Communities in the third quarter valued at about $39,000. Mather Group LLC. lifted its stake in AvalonBay Communities by 38.6% in the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 56 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in AvalonBay Communities in the third quarter valued at about $51,000. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Price Performance

NYSE AVB traded down $1.40 during midday trading on Thursday, hitting $226.40. The company had a trading volume of 339,725 shares, compared to its average volume of 715,966. The company has a market capitalization of $32.20 billion, a PE ratio of 30.97, a P/E/G ratio of 3.34 and a beta of 0.98. 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 firm has a 50-day moving average price of $226.73 and a 200-day moving average price of $215.97. 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 announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.10). The company had revenue of $734.31 million during the quarter, compared to analyst estimates of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same period in the prior year, the firm earned $2.66 earnings per share. As a group, analysts anticipate that AvalonBay Communities, Inc. will post 11.03 earnings per share for the current fiscal year.

AvalonBay Communities Announces Dividend

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 $1.70 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 annualized dividend and a yield of 3.00%. AvalonBay Communities's dividend payout ratio is presently 93.02%.

Insider Buying and Selling at AvalonBay Communities

In other news, Director Timothy J. Naughton sold 23,697 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was 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 owns 87,239 shares of the company's stock, valued at approximately $20,367,689.33. The trade was a 21.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Truist Financial raised their price target on AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Royal Bank of Canada dropped their price target on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Finally, Zelman & Associates raised AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $228.67.

AvalonBay Communities Company 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.