Asset Management One Co. Ltd. Sells 10,792 Shares of AvalonBay Communities, Inc. (NYSE:AVB)

Asset Management One Co. Ltd. decreased its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,237 shares of the real estate investment trust's stock after selling 10,792 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.19% of AvalonBay Communities worth $62,448,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service lifted its stake in shares of AvalonBay Communities by 9.8% during the 3rd quarter. National Pension Service now owns 212,409 shares of the real estate investment trust's stock valued at $47,845,000 after buying an additional 18,888 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of AvalonBay Communities by 8.0% in the third quarter. Intact Investment Management Inc. now owns 31,100 shares of the real estate investment trust's stock valued at $7,005,000 after acquiring an additional 2,300 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of AvalonBay Communities by 12.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 336,587 shares of the real estate investment trust's stock worth $75,816,000 after acquiring an additional 36,732 shares during the period. Van ECK Associates Corp boosted its stake in shares of AvalonBay Communities by 11.5% in the third quarter. Van ECK Associates Corp now owns 65,826 shares of the real estate investment trust's stock worth $15,110,000 after acquiring an additional 6,811 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of AvalonBay Communities by 2.3% during the third quarter. Janney Montgomery Scott LLC now owns 51,154 shares of the real estate investment trust's stock worth $11,523,000 after purchasing an additional 1,152 shares in the last quarter. Institutional investors own 92.61% of the company's stock.

AvalonBay Communities Trading Up 1.0 %

NYSE AVB traded up $2.22 during trading on Monday, hitting $218.50. The stock had a trading volume of 608,012 shares, compared to its average volume of 729,505. The stock has a market capitalization of $31.08 billion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 3.37 and a beta of 0.97. The stock has a 50 day simple moving average of $225.52 and a 200 day simple moving average of $210.20. AvalonBay Communities, Inc. has a one year low of $164.76 and a one year high of $236.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03.

AvalonBay Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Monday, September 30th. AvalonBay Communities's payout ratio is currently 115.06%.

Wall Street Analyst Weigh In

AVB has been the subject of several recent analyst reports. Evercore ISI upped their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. BNP Paribas started coverage on shares of AvalonBay Communities in a research report on Wednesday, September 11th. They set an "outperform" rating and a $250.00 target price for the company. UBS Group boosted their price target on shares of 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 raised their price objective on AvalonBay Communities from $213.00 to $230.00 and gave the company a "hold" rating in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company boosted their target price on AvalonBay Communities from $222.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, August 26th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $225.88.

Insider Buying and Selling at AvalonBay Communities

In other news, SVP Keri A. Shea sold 2,000 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were 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 approximately $908,026.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

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.