Metis Global Partners LLC Has $6.05 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

Metis Global Partners LLC lifted its stake in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 19.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,860 shares of the real estate investment trust's stock after purchasing an additional 4,286 shares during the quarter. Metis Global Partners LLC's holdings in AvalonBay Communities were worth $6,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in shares of AvalonBay Communities by 487.8% during the second quarter. Daiwa Securities Group Inc. now owns 359,474 shares of the real estate investment trust's stock worth $74,372,000 after buying an additional 298,322 shares in the last quarter. International Assets Investment Management LLC bought a new stake in AvalonBay Communities in the 3rd quarter valued at $581,960,000. Canada Pension Plan Investment Board raised its holdings in shares of AvalonBay Communities by 14.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,980,675 shares of the real estate investment trust's stock worth $367,534,000 after buying an additional 249,400 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of AvalonBay Communities by 958.9% during the third quarter. SG Americas Securities LLC now owns 172,618 shares of the real estate investment trust's stock worth $38,882,000 after purchasing an additional 156,316 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of AvalonBay Communities during the 3rd quarter valued at $29,256,000. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Stock Down 2.2 %

Shares of AVB stock traded down $5.18 during trading hours on Thursday, reaching $227.93. 640,158 shares of the stock were exchanged, compared to its average volume of 726,742. The firm has a market capitalization of $32.42 billion, a P/E ratio of 31.58, a P/E/G ratio of 3.36 and a beta of 0.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.03 and a quick ratio of 2.03. The business's fifty day moving average is $226.23 and its two-hundred day moving average is $212.05. AvalonBay Communities, Inc. has a 12-month low of $166.60 and a 12-month high of $236.26.

AvalonBay Communities (NYSE:AVB - Get Free Report) last posted 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 analysts' expectations of $731.67 million. During the same quarter in the previous year, the firm posted $2.66 earnings per share. As a group, research analysts expect that AvalonBay Communities, Inc. will post 11.04 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.98%. AvalonBay Communities's dividend payout ratio (DPR) is 93.02%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BNP Paribas began coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They issued an "outperform" rating and a $250.00 price objective for the company. Royal Bank of Canada decreased their price objective on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. UBS Group lifted their target price on AvalonBay Communities from $210.00 to $228.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th. Truist Financial boosted their price objective on shares of AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a research note on Tuesday, August 27th. Finally, Evercore ISI upped their price objective on shares of AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $226.88.

Insider Buying and Selling

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the firm'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 completion of the transaction, the director now owns 87,239 shares in the company, valued at $20,367,689.33. This trade represents a 21.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.42% of the company's stock.

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.