AvalonBay Communities, Inc. (NYSE:AVB) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. boosted its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,174 shares of the real estate investment trust's stock after buying an additional 3,350 shares during the period. 1832 Asset Management L.P.'s holdings in AvalonBay Communities were worth $13,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. SYSTM Wealth Solutions LLC increased its stake in shares of AvalonBay Communities by 2.7% during the second 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. Checchi Capital Advisers LLC lifted its position in AvalonBay Communities by 4.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,338 shares of the real estate investment trust's stock valued at $277,000 after acquiring an additional 59 shares in the last quarter. Mechanics Bank Trust Department boosted its stake in AvalonBay Communities by 0.3% during the 2nd quarter. Mechanics Bank Trust Department now owns 17,934 shares of the real estate investment trust's stock valued at $3,710,000 after purchasing an additional 60 shares during the last quarter. SVB Wealth LLC increased its holdings in shares of AvalonBay Communities by 1.1% in the 1st quarter. SVB Wealth LLC now owns 5,529 shares of the real estate investment trust's stock worth $1,026,000 after purchasing an additional 62 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in shares of AvalonBay Communities by 2.9% in the second quarter. Profund Advisors LLC now owns 2,202 shares of the real estate investment trust's stock worth $456,000 after purchasing an additional 63 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

AvalonBay Communities Stock Down 1.3 %

Shares of AVB stock traded down $3.02 during trading on Tuesday, reaching $230.15. The company's stock had a trading volume of 625,682 shares, compared to its average volume of 735,303. AvalonBay Communities, Inc. has a 1-year low of $160.45 and a 1-year high of $236.26. The stock's 50-day moving average price is $217.61 and its 200 day moving average price is $201.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $32.72 billion, a price-to-earnings ratio of 34.70, a P/E/G ratio of 3.41 and a beta of 0.97.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $2.71 by ($0.93). The firm had revenue of $726.04 million for the quarter, compared to analysts' expectations of $718.49 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the company posted $2.66 earnings per share. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.01 EPS for the current year.

AvalonBay Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, September 30th. AvalonBay Communities's dividend payout ratio (DPR) is currently 101.19%.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, SVP Keri A. Shea sold 2,000 shares of AvalonBay Communities stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company's stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Keri A. Shea sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $207.17, for a total transaction of $414,340.00. Following the transaction, the senior vice president now owns 4,383 shares of the company's stock, valued at $908,026.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total value of $1,044,500.00. Following the sale, the executive now directly owns 65,967 shares of the company's stock, valued at $13,780,506.30. The disclosure for this sale can be found here. Insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVB shares. Evercore ISI increased their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Zelman & Associates upgraded shares of AvalonBay Communities to a "hold" rating in a research note on Thursday, September 5th. Truist Financial lifted their price target on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research note on Tuesday, August 27th. Scotiabank increased their price target on AvalonBay Communities from $229.00 to $244.00 and gave the stock a "sector perform" rating in a research note on Monday, September 16th. Finally, Piper Sandler raised their target price on shares of AvalonBay Communities from $230.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AvalonBay Communities currently has an average rating of "Hold" and a consensus price target of $223.12.

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.