AvalonBay Communities, Inc. (NYSE:AVB) Holdings Increased by Martingale Asset Management L P

Martingale Asset Management L P increased its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 150.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,550 shares of the real estate investment trust's stock after buying an additional 20,149 shares during the quarter. Martingale Asset Management L P's holdings in AvalonBay Communities were worth $7,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVB. RPg Family Wealth Advisory LLC purchased a new position in shares of AvalonBay Communities in the 3rd quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in AvalonBay Communities in the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 169 shares during the period. Brooklyn Investment Group acquired a new position in AvalonBay Communities during the third quarter valued at approximately $39,000. Finally, Mather Group LLC. grew its stake in AvalonBay Communities by 38.6% during the third 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. Institutional investors and hedge funds own 92.61% of the company's stock.

Insiders Place Their Bets

In related news, Director Timothy J. Naughton sold 2,261 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the transaction, the director now owns 111,436 shares in the company, valued at $26,051,508.08. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

AvalonBay Communities Stock Down 1.0 %

Shares of AVB stock traded down $2.46 during trading hours on Friday, hitting $235.35. 616,785 shares of the company were exchanged, compared to its average volume of 720,194. The stock has a market capitalization of $33.48 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 3.47 and a beta of 0.97. AvalonBay Communities, Inc. has a one year low of $169.37 and a one year high of $239.29. The business's 50-day simple moving average is $226.85 and its two-hundred day simple moving average is $215.13. 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 (NYSE:AVB - Get Free Report) last released its earnings results 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). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The firm had revenue of $734.31 million for the quarter, compared to the consensus estimate of $731.67 million. During the same period in the prior year, the business earned $2.66 EPS. Sell-side analysts predict that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVB shares. BNP Paribas began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 target price on the stock. Wells Fargo & Company raised their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, August 26th. Zelman & Associates raised AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. Evercore ISI increased their target price on AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted 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. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, AvalonBay Communities currently has a consensus rating of "Hold" and an average target price of $226.88.

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.