Los Angeles Capital Management LLC Takes $4.46 Million Position in AvalonBay Communities, Inc. (NYSE:AVB)

Los Angeles Capital Management LLC acquired a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,784 shares of the real estate investment trust's stock, valued at approximately $4,456,000.

Several other hedge funds have also recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in shares of AvalonBay Communities by 24.2% in the first quarter. Empowered Funds LLC now owns 1,831 shares of the real estate investment trust's stock valued at $340,000 after buying an additional 357 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of AvalonBay Communities by 774.0% in the first quarter. Headlands Technologies LLC now owns 874 shares of the real estate investment trust's stock valued at $162,000 after buying an additional 774 shares in the last quarter. Entropy Technologies LP increased its stake in shares of AvalonBay Communities by 2.5% in the first quarter. Entropy Technologies LP now owns 3,811 shares of the real estate investment trust's stock valued at $707,000 after buying an additional 93 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of AvalonBay Communities by 14.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,952 shares of the real estate investment trust's stock valued at $6,115,000 after buying an additional 4,138 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in AvalonBay Communities by 9.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 177,298 shares of the real estate investment trust's stock valued at $32,899,000 after acquiring an additional 15,236 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVB has been the topic of several recent research reports. BNP Paribas initiated coverage on AvalonBay Communities in a report on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price target on the stock. JPMorgan Chase & Co. raised their price target on AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Zelman & Associates upgraded AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Truist Financial raised their price target on AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada decreased their price target on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $227.06.

AvalonBay Communities Stock Up 1.3 %

Shares of NYSE:AVB traded up $2.90 during trading on Wednesday, hitting $233.11. 483,556 shares of the company were exchanged, compared to its average volume of 727,136. The stock has a market cap of $33.15 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 3.36 and a beta of 0.97. AvalonBay Communities, Inc. has a fifty-two week low of $166.60 and a fifty-two week high of $236.26. The firm has a fifty day moving average price of $226.11 and a two-hundred day moving average price of $211.90. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.70.

AvalonBay Communities (NYSE:AVB - Get Free Report) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $731.67 million. During the same quarter in the prior year, the firm posted $2.66 earnings per share. As a group, research analysts anticipate that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 2.92%. AvalonBay Communities's dividend payout ratio is currently 93.02%.

Insider Transactions at AvalonBay Communities

In related 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 value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 value of $5,532,538.59. Following the completion of the sale, the director now directly owns 87,239 shares in the company, valued at $20,367,689.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy J. Naughton sold 2,261 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total value of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares of the company's stock, valued at $26,051,508.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

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.