Ontario Teachers Pension Plan Board Buys Shares of 5,738 AvalonBay Communities, Inc. (NYSE:AVB)

Ontario Teachers Pension Plan Board bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 5,738 shares of the real estate investment trust's stock, valued at approximately $1,292,000.

Several other large investors have also recently made changes to their positions in AVB. Opal Wealth Advisors LLC purchased a new stake in shares of AvalonBay Communities in the second quarter valued at about $32,000. Versant Capital Management Inc grew its holdings in shares of AvalonBay Communities by 1,877.8% in the second quarter. Versant Capital Management Inc now owns 178 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 169 shares during the period. BROOKFIELD Corp ON purchased a new position in AvalonBay Communities during the first quarter worth about $39,000. Mather Group LLC. boosted its stake in AvalonBay Communities by 38.6% during the third quarter. Mather Group LLC. now owns 201 shares of the real estate investment trust's stock worth $45,000 after buying an additional 56 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in AvalonBay Communities during the third quarter worth about $51,000. 92.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 23,697 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $233.47, for a total value of $5,532,538.59. Following the sale, the director now owns 87,239 shares of the company's stock, valued at approximately $20,367,689.33. This represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AVB has been the subject of several research analyst reports. Evercore ISI increased their target price on shares of AvalonBay Communities from $225.00 to $229.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Truist Financial raised 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. JPMorgan Chase & Co. raised their price objective on shares of AvalonBay Communities from $212.00 to $247.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. Zelman & Associates raised shares of AvalonBay Communities to a "hold" rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company raised their target price on shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $226.88.

AvalonBay Communities Stock Performance

Shares of AVB traded up $2.57 during mid-day trading on Thursday, reaching $230.71. 64,876 shares of the company's stock were exchanged, compared to its average volume of 720,292. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $32.82 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97. The business's fifty day simple moving average is $226.42 and its 200-day simple moving average is $213.38. AvalonBay Communities, Inc. has a 52-week low of $169.37 and a 52-week high of $236.26.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (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 business had revenue of $734.31 million for the quarter, compared to analysts' expectations of $731.67 million. During the same quarter last year, the business posted $2.66 earnings per share. On average, equities research analysts expect that AvalonBay Communities, Inc. will post 11.04 earnings per share for the current year.

AvalonBay Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a yield of 2.95%. AvalonBay Communities's dividend payout ratio (DPR) is 93.02%.

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.