AvalonBay Communities, Inc. (NYSE:AVB) Stock Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,060,497 shares of the real estate investment trust's stock after acquiring an additional 55,588 shares during the period. JPMorgan Chase & Co. owned approximately 2.85% of AvalonBay Communities worth $914,627,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Segment Wealth Management LLC boosted its holdings in AvalonBay Communities by 4.6% in the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust's stock worth $231,000 after acquiring an additional 45 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in AvalonBay Communities by 2.7% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 1,855 shares of the real estate investment trust's stock valued at $386,000 after purchasing an additional 49 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in AvalonBay Communities by 4.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust's stock worth $286,000 after buying an additional 50 shares during the period. Tectonic Advisors LLC lifted its holdings in AvalonBay Communities by 2.7% in the 3rd quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust's stock worth $436,000 after buying an additional 50 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in AvalonBay Communities by 4.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust's stock valued at $280,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 92.61% of the company's stock.

Insiders Place Their Bets

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the sale, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

AvalonBay Communities Stock Performance

Shares of AVB traded down $2.13 during midday trading on Friday, hitting $221.18. 362,487 shares of the stock traded hands, compared to its average volume of 712,802. The business's 50 day moving average price is $227.38 and its two-hundred day moving average price is $219.31. The firm has a market capitalization of $31.46 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. AvalonBay Communities, Inc. has a 1-year low of $169.37 and a 1-year high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted its 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). The firm had revenue of $734.31 million for 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 previous year, the firm earned $2.66 earnings per share. Equities research analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.07%. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore ISI lifted their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Royal Bank of Canada dropped their price target on shares of AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 6th. Barclays started coverage on shares of AvalonBay Communities in a research note on Tuesday, December 17th. They set an "equal weight" rating and a $243.00 price objective on the stock. Finally, Zelman & Associates raised shares of AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities currently has an average rating of "Hold" and a consensus price target of $231.33.

About AvalonBay Communities

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.