Public Sector Pension Investment Board Raises Position in AvalonBay Communities, Inc. (NYSE:AVB)

Public Sector Pension Investment Board increased its position in shares of AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 25.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,776 shares of the real estate investment trust's stock after acquiring an additional 5,042 shares during the quarter. Public Sector Pension Investment Board's holdings in AvalonBay Communities were worth $5,581,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Segment Wealth Management LLC raised its holdings in shares of AvalonBay Communities by 4.6% in the 3rd quarter. Segment Wealth Management LLC now owns 1,025 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 45 shares during the period. SYSTM Wealth Solutions LLC boosted its position in 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 acquiring an additional 49 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in shares of AvalonBay Communities by 4.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,268 shares of the real estate investment trust's stock valued at $286,000 after acquiring an additional 50 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in AvalonBay Communities by 2.7% in the third quarter. Tectonic Advisors LLC now owns 1,934 shares of the real estate investment trust's stock worth $436,000 after acquiring an additional 50 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in shares of AvalonBay Communities by 4.6% during the third quarter. OneDigital Investment Advisors LLC now owns 1,244 shares of the real estate investment trust's stock valued at $280,000 after buying an additional 55 shares during the last quarter. 92.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Timothy J. Naughton sold 2,261 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $233.78, for a total value of $528,576.58. Following the sale, the director now directly owns 111,436 shares in the company, valued at approximately $26,051,508.08. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank cut their target price on AvalonBay Communities from $244.00 to $241.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 14th. Evercore ISI lifted 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. Zelman & Associates upgraded AvalonBay Communities to a "hold" rating in a research report on Thursday, September 5th. BNP Paribas began coverage on AvalonBay Communities in a research report on Wednesday, September 11th. They set an "outperform" rating and a $250.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AvalonBay Communities presently has a consensus rating of "Hold" and a consensus price target of $228.67.

AvalonBay Communities Stock Down 2.0 %

NYSE:AVB traded down $4.62 on Monday, hitting $230.73. 652,792 shares of the company's stock were exchanged, compared to its average volume of 719,903. 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 firm has a 50-day moving average price of $226.85 and a 200-day moving average price of $215.37. The company has a market cap of $32.82 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97. AvalonBay Communities, Inc. has a 52 week low of $169.37 and a 52 week high of $239.29.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $2.61 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.10). AvalonBay Communities had a return on equity of 8.84% and a net margin of 36.20%. The company had revenue of $734.31 million for the quarter, compared to analyst estimates of $731.67 million. During the same period in the previous year, the firm posted $2.66 earnings per share. As a group, analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current fiscal year.

AvalonBay Communities Announces Dividend

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

About AvalonBay Communities

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.