AvalonBay Communities, Inc. (NYSE:AVB) Stake Lifted by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,516 shares of the real estate investment trust's stock after acquiring an additional 4,080 shares during the period. Royal London Asset Management Ltd. owned approximately 0.05% of AvalonBay Communities worth $16,109,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of AvalonBay Communities in the third quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in AvalonBay Communities in the 2nd quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new stake in AvalonBay Communities during the 3rd quarter valued at $39,000. Mather Group LLC. increased its position 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 in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of AvalonBay Communities in the third quarter worth $51,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVB has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price objective on AvalonBay Communities from $234.00 to $233.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Zelman & Associates upgraded shares of AvalonBay Communities to a "hold" rating in a report on Thursday, September 5th. Truist Financial upped 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AvalonBay Communities from $206.00 to $249.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Finally, Scotiabank reduced their price target 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. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $228.67.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, Director Timothy J. Naughton sold 2,261 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $233.78, for a total transaction of $528,576.58. Following the completion of the sale, the director now owns 111,436 shares in the company, valued at $26,051,508.08. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.42% of the company's stock.

AvalonBay Communities Stock Up 0.1 %

Shares of NYSE:AVB traded up $0.15 during trading on Friday, hitting $226.55. The company's stock had a trading volume of 383,291 shares, compared to its average volume of 544,950. The company has a market capitalization of $32.22 billion, a PE ratio of 30.99, a PEG ratio of 3.33 and a beta of 0.98. AvalonBay Communities, Inc. has a fifty-two week low of $169.37 and a fifty-two week high of $239.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock's 50-day moving average price is $226.75 and its two-hundred day moving average price is $216.43.

AvalonBay Communities (NYSE:AVB - Get Free Report) last released 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). The business had revenue of $734.31 million for the quarter, compared to analysts' expectations of $731.67 million. AvalonBay Communities had a net margin of 36.20% and a return on equity of 8.84%. During the same quarter last year, the company posted $2.66 earnings per share. As a group, sell-side analysts expect that AvalonBay Communities, Inc. will post 11.03 EPS for the current year.

AvalonBay Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.70 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.00%. AvalonBay Communities's dividend payout ratio (DPR) is presently 93.02%.

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.