State of Alaska Department of Revenue Has $20.35 Million Stake in AvalonBay Communities, Inc. (NYSE:AVB)

State of Alaska Department of Revenue reduced its holdings in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,367 shares of the real estate investment trust's stock after selling 6,683 shares during the period. State of Alaska Department of Revenue owned about 0.06% of AvalonBay Communities worth $20,353,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AVB. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the 2nd quarter worth about $32,000. Versant Capital Management Inc increased its position in AvalonBay Communities by 1,877.8% in the 2nd quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 169 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in AvalonBay Communities in the 1st quarter worth about $39,000. Mather Group LLC. increased its position in AvalonBay Communities by 38.6% in the 3rd quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in AvalonBay Communities by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 261 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 73 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 completion of the transaction, the executive now owns 65,967 shares in the company, valued at $13,780,506.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Keri A. Shea sold 2,000 shares of the firm's stock in a transaction 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 sale, the senior vice president now directly owns 4,383 shares of the company's stock, valued at $908,026.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CIO Matthew H. Birenbaum sold 5,000 shares of the firm's stock in a transaction on Monday, August 5th. The shares were 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. This 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on AvalonBay Communities from $212.00 to $247.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. Piper Sandler upped their target price on AvalonBay Communities from $230.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Evercore ISI upped their target price on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. UBS Group increased their price objective on AvalonBay Communities from $210.00 to $228.00 and gave the company a "neutral" rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company increased their price objective on AvalonBay Communities from $222.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, August 26th. Eleven equities 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.com, AvalonBay Communities currently has a consensus rating of "Hold" and an average target price of $225.88.

AvalonBay Communities Stock Performance

Shares of AVB stock traded down $3.42 during mid-day trading on Friday, reaching $226.35. The stock had a trading volume of 658,933 shares, compared to its average volume of 725,851. The firm's 50 day simple moving average is $224.90 and its 200 day simple moving average is $208.45. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities, Inc. has a one year low of $160.45 and a one year high of $236.26. The firm has a market cap of $32.18 billion, a PE ratio of 33.68, a P/E/G ratio of 3.33 and a beta of 0.97.

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

AvalonBay Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given 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 3.00%. AvalonBay Communities's dividend payout ratio (DPR) is presently 101.19%.

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.