258,362 Shares in AvalonBay Communities, Inc. (NYSE:AVB) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 258,362 shares of the real estate investment trust's stock, valued at approximately $581,960,000. International Assets Investment Management LLC owned 0.18% of AvalonBay Communities as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AVB. 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. Canada Pension Plan Investment Board lifted its stake in AvalonBay Communities by 14.4% in the first 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 acquiring an additional 249,400 shares during the last quarter. SG Americas Securities LLC grew its holdings in AvalonBay Communities by 4,563.7% during the 1st quarter. SG Americas Securities LLC now owns 212,803 shares of the real estate investment trust's stock worth $39,488,000 after acquiring an additional 208,240 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $29,256,000. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at $26,755,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, CIO Matthew H. Birenbaum sold 5,000 shares of the company's 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 completion of the transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Keri A. Shea sold 2,000 shares of the 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 completion of the transaction, the senior vice president now directly owns 4,383 shares in the company, valued at approximately $908,026.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $208.90, for a total transaction 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.42% of the company's stock.

AvalonBay Communities Trading Up 0.1 %

Shares of AVB traded up $0.22 during mid-day trading on Thursday, reaching $229.76. The company had a trading volume of 649,982 shares, compared to its average volume of 726,177. The stock has a market cap of $32.67 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 3.33 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $224.38 and a 200-day simple moving average of $207.73. AvalonBay Communities, Inc. has a fifty-two week low of $160.45 and a fifty-two week high of $236.26.

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

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.70 dividend. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.96%. AvalonBay Communities's dividend payout ratio (DPR) is currently 101.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AVB shares. JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. Evercore ISI upped their price objective on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Zelman & Associates raised AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Truist Financial boosted their target price on shares of AvalonBay Communities from $213.00 to $230.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $225.88.

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.